Tata Power plans invest in renewable energy

Tata Power announced to invest over $946.55 mn (₹75,000 crore) in renewables in the next five years.

The company has decided to ramp up clean energy portfolio as India is transitioning to green fuels from fossil fuels.

Tata Power chairman N Chandrasekaran said the firm aims to have an electricity generation capacity of 30 GW during the same period with more than half coming from clean energy sources.

Tata Power at present has a generation capacity of 13.5 GW with 34 per cent contributed by renewable energy sources.

Chandrasekaran further said that the company is looking to scale its generation capacity to over 30 GW by FY’27 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.