Tata Power Company (TPC) would invest Rs 18,500 crore over the next five years for new projects including some abroad, even as it is planning a 500 mw plant in South Africa at an investment of Rs 2,000 crore.

South Africa, which was earlier surplus in power, is facing some power shortage and there is move to seek private sector power in good terms, TPC chairman Ratan Tata told the annual general meeting here. The company was looking to set up a 500 mw plant in that country at a cost of Rs 2,000 crore.