Tata Power plans to invest around Rs 1.46 trillion to double its operational capacity to 32 GW by 2030, according to CEO and MD Praveer Sinha.
As of FY24, the company’s installed capacity stood at 15.6 GW, with 6.7 GW in renewables. By 2030, Tata Power aims to reach 31.9 GW, with 23 GW from renewable energy.
The company also focuses on expanding its transmission and distribution segments. Tata Power plans to increase its transmission line capacity to 10,500 ckm from 4,633 ckm and aims to grow its customer base to 40 million from 12.5 million.
Tata Power has earmarked Rs210 billion for FY24 capex, rising to Rs 260 billion in FY25. Approximately 60% of the capex will be directed toward renewable energy projects. By 2030, the company targets Rs 1 trillion in revenue and Rs 10 billion in profit after tax.
Tata Power has also invested Rs 43 billion in its solar cell and module plant in Tirunelveli, Tamil Nadu, which has a production capacity of 4.3 GW each for solar cells and modules.