Tata Power plans a capex of over Rs 750 billion in the next five years in renewables

Tata Power has planned to spend over Rs 750 billion in the next five years in its renewable energy business.

Further, the company plans to increase its green energy share from current levels of 34 per cent to 60 per cent by 2027 and 80 per cent by 2030. The company has planned a Rs 140 billion consolidated capex in 2022-23 with Rs 100 billion in renewables. Tata Power added renewable energy capacity of 707 MW during 2021-22. The company holds strong engineering, procurement, and construction (EPC) order book of Rs 130 billion and is also setting up a 4 GW solar cell and module manufacturing capacity in Tamil Nadu with an investment of around Rs 30 billion. The company has three key goals—carbon net zero by 2045, 100 per cent water neutral by 2030, zero waste to landfills before 2030.

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