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
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?