Tata Power to invest Rs 20,000 cr capex in FY25: N Chandrasekaran

Tata Power will invest ₹20,000 crore towards capital expenditure in FY25. This is over and above the Rs 12,000 crore invested in FY24, the company’s chairman N Chandrasekaran said on Tuesday.

Addressing shareholders at the company’s Annual General Meeting (AGM), Chandrasekaran said the company will explore participation in small modular nuclear reactors once the government grants the necessary permissions. In addition, the company will pursue new distribution expansion opportunities in other states, as these opportunities arise and align with government policies.

“A large part of this (capex) will be towards accelerating the company’s renewable energy portfolio and balance towards transmission and distribution businesses,” he said.

Further, Chandrasekaran said the company targeting 50 million consumers through distribution business expansion, from the present 12.5 million consumers.”The company is well positioned to lead India’s green energy shift with a focus on providing round-the-clock renewable energy, especially to commercial and Industrial consumers,” Chandrasekaran added.

The chairman informed the shareholders that the company is aiming for a 15 GW clean energy portfolio in five years from the existing 9 GW, both from existing and ongoing projects. Tata Power has aggressive growth in rooftop solar, aiming for increased market share on the back of PM Surya Ghar Yojana, he said.

The company has set up New 4.3GW solar cell and module manufacturing plant in Tamil Nadu and leading with 5,500 public and captive chargers in over  530 cities, and over 86,000 home chargers installed. The company is fully geared to solarize homes through its ‘Ghar Ghar Solar’ initiative under PM Surya Ghar Yojana executed over 2GW rooftop projects so far and has an order book of Rs 2,800 crore.

He said Tata Power’s consolidated revenue grew 10% to Rs 61,542 crore and PAT increased 12% to Rs 4,280 crore. The Company continued its efforts to strengthen its balance sheet and maintained the net debt to equity less than 1 even after funding its growth plans.