Tata Power, one of India’s leading integrated power companies, has announced its plans to invest Rs 12,000 crore in capital expenditure (capex) by the financial year 2024. The company’s CEO and Managing Director, Praveer Sinha, revealed the plans during a recent interview with a leading business news channel.
The investment will be focused on expanding the company’s renewable energy portfolio, modernizing its existing thermal power plants, and strengthening its transmission and distribution infrastructure. Tata Power aims to achieve a balanced energy mix of 30-40% renewable energy by 2025.
Sinha stated that the company plans to add 10 GW of renewable energy capacity over the next five years, which will include solar, wind, and hydro projects. The company has already commissioned 2.6 GW of renewable energy capacity and has another 1.8 GW under construction.
Tata Power is also looking to modernize its existing thermal power plants to improve their efficiency and reduce emissions. The company plans to invest in technologies such as flue gas desulphurization (FGD) and selective catalytic reduction (SCR) to reduce emissions from its coal-fired power plants.
In addition to expanding its renewable energy portfolio and modernizing its thermal power plants, Tata Power is also looking to strengthen its transmission and distribution infrastructure. The company plans to invest in smart grid technologies, which will enable it to better manage its electricity network and improve reliability for customers.
Sinha stated that the company’s focus on renewable energy and modernization of its thermal power plants is in line with India’s commitment to reducing its carbon footprint and achieving its renewable energy targets. He also emphasized that Tata Power is committed to providing reliable and affordable electricity to its customers.
Tata Power has been at the forefront of India’s transition to renewable energy. The company has set a target of achieving 10 GW of renewable energy capacity by 2025 and has already made significant progress towards this goal. With its latest investment plans, Tata Power is well-positioned to continue leading India’s transition to a cleaner and more sustainable energy future.
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