Tata Power to invest $5 billion to expand renewable energy base

Tata Power Company Limited is planning to invest around $5 billion in order to augment its renewable energy capacity to 12,000 MW by 2028. Currently, the share of renewable energy capacity in the total power portfolio stands at 30 per cent. Tata Power aims to increase the share of non-fossil fuels to 50 per cent by 2025. The company also expects to breakeven on its 4,000 MW Mundra UMPP in the next two years owing to an expected decline in global coal prices.