Tata Power to invest 10 billion in clean energy; FY25
POWER & RENEWABLE ENERGY

Tata Power to invest 10 billion in clean energy; FY25

Tata Power has budgeted a 66% increase in capital expenditure, totaling Rs 200 billion for the current fiscal year, with a primary focus on energy transition initiatives and India's net-zero emission goal by 2070. During the fiscal year ended March 2024, the company's capital expenditure was approximately Rs 12 billion. CEO

Praveer Sinha, CEO, Tata Power, stated, "We aim to spend around Rs 200 billion this year," with about half of the investment allocated to renewable energy projects and the remainder distributed among transmission, distribution, and conventional projects, financed through internal accruals and debt.

Tata Power reported an 11% surge in consolidated net profit to Rs 10.46 billion in the March 2024 quarter, primarily attributed to increased revenues. The company's renewable energy segment saw progress with the commencement of production at its 4.3 GW manufacturing facility in Tamil Nadu, which has commercially produced around 130 MW of modules. In FY24, Tata Power secured two projects worth Rs 23 billion through the Tariff-Based Competitive Bidding (TBCB) process. With aspirations of achieving 70% of its capacity from non-fossil-based fuels by 2030, Tata Power currently operates 4.5 GW of renewable capacity, with another 5.5 GW under implementation, and possesses a transmission lines portfolio exceeding 6,277 circuit kilometres, including 1,651 circuit kilometres in the pipeline as of March 31, 2024.

(Source: ET)

Tata Power has budgeted a 66% increase in capital expenditure, totaling Rs 200 billion for the current fiscal year, with a primary focus on energy transition initiatives and India's net-zero emission goal by 2070. During the fiscal year ended March 2024, the company's capital expenditure was approximately Rs 12 billion. CEO Praveer Sinha, CEO, Tata Power, stated, We aim to spend around Rs 200 billion this year, with about half of the investment allocated to renewable energy projects and the remainder distributed among transmission, distribution, and conventional projects, financed through internal accruals and debt. Tata Power reported an 11% surge in consolidated net profit to Rs 10.46 billion in the March 2024 quarter, primarily attributed to increased revenues. The company's renewable energy segment saw progress with the commencement of production at its 4.3 GW manufacturing facility in Tamil Nadu, which has commercially produced around 130 MW of modules. In FY24, Tata Power secured two projects worth Rs 23 billion through the Tariff-Based Competitive Bidding (TBCB) process. With aspirations of achieving 70% of its capacity from non-fossil-based fuels by 2030, Tata Power currently operates 4.5 GW of renewable capacity, with another 5.5 GW under implementation, and possesses a transmission lines portfolio exceeding 6,277 circuit kilometres, including 1,651 circuit kilometres in the pipeline as of March 31, 2024. (Source: ET)

Next Story
Infrastructure Urban

TRAI Evaluates Telecom Service in Nine Cities

In December 2024, the Telecom Regulatory Authority of India (TRAI) conducted Independent Drive Tests (IDT) across nine cities, highways, and railway routes, including Aligarh, Bhubaneswar, Jammu, Lucknow, Navi Mumbai, Raipur, Siliguri, Thiruvananthapuram, and the Vapi-Rewari Highway. The tests aimed to assess the quality of voice and data services provided by telecom operators such as Bharti Airtel, BSNL/MTNL, Reliance Jio, and Vodafone Idea using various technologies like 2G, 3G, 4G, and 5G. The drive tests evaluated Key Performance Indicators (KPIs) for both voice and data services, includi..

Next Story
Infrastructure Urban

Kolkata to Host North East Trade & Investment Roadshow

Kolkata is set to host the North East Trade & Investment Roadshow on March 7, 2025, at Hotel JW Marriott, starting at 10:30 a.m. Organized by the Ministry of Development of North Eastern Region (MDoNER) in collaboration with FICCI and Invest India, the event aims to attract investors and promote economic opportunities in the North East. The roadshow will be graced by Dr. Sukanta Majumdar, Minister of State for MDoNER & Education, along with Shri Dharmvir Jha, Statistical Adviser, MDoNER, and senior representatives from all eight North Eastern states. The event will feature presentations on ke..

Next Story
Infrastructure Energy

India’s Rooftop Solar Installations Surge by 86% in 2024

India added 3.2 GW of rooftop solar capacity in 2024, marking an 86% increase from the previous year, according to Mercom India Research’s latest Q4 & Annual 2024 India Rooftop Solar Market Report. The surge was largely fueled by the PM Surya Ghar: Muft Bijli Yojana, with the residential sector accounting for 74% of the total installations. In the wind power sector, NLC India and Adyant Enersol (Datta Infra) secured bids in SJVN’s auction for 600 MW of inter-state transmission system-connected wind projects. NLC India won 200 MW at a tariff of Rs 3.74/kWh, while Adyant Enersol secured 112..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?