Tata Power: 75K cr capex for RE in 5 yrs

Tata Power has announced a capital expenditure plan of over Rs 75,000 crore in the renewable energy sector in the next 5 years.

Addressing the AGM on Thursday, Tata Power Chairman N. Chandrasekaran said it has planned Rs 14,000 crore consolidated capex in FY23 with Rs 10,000 crore in renewables.

Tata Power is looking to scale its generation capacity to over 30 GW by FY27 from current 13.5 GW with an increased clean energy portfolio from current levels of 34 per cent to 60 per cent by 2027 and 80 per cent by 2030, it said. “In our T&D business, the company will further optimize the Odisha Discom operations, stabilise the new acquisition in the transmission business and deliver phenomenal customer service, enabled by digitalization,” he said.