Tata Power to spend ₹23,000 cr annually over next 2 years

Tata Power Chairman N Chandrasekaran
| Photo Credit:
–

Tata Power plans to spend ₹23,000 crore annually over the next two years while the company is rethinking its strategy of focusing only on green energy due to the surge in demand for power, said Chairman N Chandrasekaran during the company’s annual general meeting.

Responding to queries by shareholders, Chandrasekaran that the company’s board is reviewing its strategy of not spending further on coal-based power. “To meet immediate industrial demand, we need to look at participation in additional coal-based projects,” he said.

The company has been focusing its resources on augmenting its renewable energy portfolio. Tata Power has set a renewable energy capacity of 70 per cent by the end of 2030.

Chandrasekaran also said the company would be looking at demerging its renewable energy arm from the parent, at an appropriate time, and clarified that there were no immediate plans to do so.

 Tata Power Renewable Energy is a subsidiary of Tata Power and has utility-scale operational capacity of  5.6 GW, including 4.6 GW solar and 1 GW wind.

Bhutan projects

Apart from its strategic partnership in Bhutan to set up renewable energy and hydropower projects, the company’s operations will be focused on India, he said.

At the commencement of the meeting, Chandrasekaran pointed out in a speech that Tata Power had transitioned to a direct consumer facing company with its rooftop solar and EV charging solutions. It has leadership position in rooftop solar installation, while it has one of the largest EV charging networks in the country.

He said the company was transitioning from being a pure-play solar and wind company to “being a force in the hybrid renewable energy market”.

It was also primed for the anticipated opening up of the nuclear sector for private participation, he added.

Published on July 4, 2025