Tata Power Co. unveils ambitious targets of achieving 15 gigawatts (GW) of renewable power generation by FY27 and aims for 20 GW by 2030, constituting 70% of its total power generation through clean energy.
Transition to Non-Fossil Fuel Power Generation
The Tata Group subsidiary envisions transitioning to a 100% non-fossil fuel power generation company by 2045, marking the end of power purchase agreements for thermal units and the gradual phasing out of such plants.
Investment Plans for Renewable Expansion
To realize its FY27 renewable energy goal, Tata Power plans a significant capital expenditure, with an earmarked investment of Rs 60,000 crore over the period, including Rs 13,000 crore allocated for two unspecified initiatives.
Diversification and Uninterrupted Power Supply
Recognizing the intermittent nature of solar and wind energy, Tata Power emphasizes the need for capacity expansion and source diversification to ensure a consistent and uninterrupted power supply.
Embracing Digital Technology for Energy Efficiency
Tata Power leverages digital technology for real-time energy efficiency management on the demand side, positioning itself as an integrated energy solution and services company.
CEO’s Insights on Green Initiatives
CEO and Managing Director Praveer Sinha outlines Tata Power’s green energy vision during a tour of one of its hydropower units, emphasizing the company’s commitment to sustainable practices.
Source: bloombergquint.com
