N Chandrasekaran's big announcement, said - Tata Power will invest Rs 20000 crore in FY 2024-25
N Chandrasekaran: Tata Power plans to spend Rs 20,000 crore for capital expenditure in FY 2025. Told the shareholders that a large part of the capital expenditure will be to accelerate the company's renewable energy portfolio.
Tata Power plans to spend Rs 20,000 crore for capital expenditure in FY2025. Company chairman N Chandrasekaran has said. He told the shareholders at the company's 105th Annual General Meeting that a large part of this would be for accelerating its renewable energy portfolio. It is way higher than the Rs 12,000 crore invested by the firm in FY 2024. The money shall be used to ramp up its renewable energy projects and spending on the distribution business, including transition.
Tata Group chief N Chandrasekaran said that Tata Power will also invest to take advantage of new distribution expansion opportunities in other states. Apart from this, the company will also explore the possibility of participation in small modular nuclear reactors after getting the necessary approval from the government.
Chandrasekaran said that Tata Power is aiming to create 15 gigawatts of clean energy capacity in two to five years through existing and under-construction projects. This capacity is currently nine gigawatts. He said that the company aims to add five crore consumers through expansion of distribution business, the current number of the company's consumers is more than 1.25 crore.
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According to Chandrasekaran, the company is especially focusing on industrial areas. In which clean energy can be provided 24 hours a day. He said that the company is in a good position to lead the change in India's green energy sector. Chandrasekaran said that the company is expanding rapidly in rooftop solar. With PM Surya Ghar Yojana we are also increasing our market share.
