Mumbai: Tata PowerNSE 3.42 % Company hopes to raise about Rs 3,000 crore from divestment of non-core operations and restructuring the renewable energy business with an aim to cut debt by at around 40% this financial year.
The company, which has an installed capacity of 12,742 megawatts, hopes to raise the divestment proceeds despite the disruption caused by the pandemic, in the global economy, Chief Executive Officer and Managing Director Praveer Sinha told ET.
“Our attempt is to reduce the debt to the levels of Rs 25,000 crore by the end of this fiscal year from Rs 44,000 crore; it is an indicative target. We are looking at various means to do it. We have already started our divestment process,” Sinha said.
