Changing tack: Tata Power set to become a services player
Like some of its global peers such as US-based Duke Energy or Italian multinational Enel, power producer and distributor Tata Power is looking to morph from a pure-play utility into a customer-focused business.
CEO & MD Praveer Sinha expects renewables and the customer-oriented business — distribution, rooftop solar, micro-grid and solar pumps, home automation and EV charging — to contribute about half the company’s revenues in the next five years. Tata Power’s revenues of close to `30,000 crore in 2018-19 came equally from generation, T&D and renewables.
