Tata Power Co. Ltd plans to invest around ₹20,000 crore in the current fiscal year, chairman N. Chandrasekaran said at the company's 105th annual general meeting (AGM) on Friday.
The bulk of this investment will bolster its renewable energy business, with the rest earmarked for the transmission and distribution operations, he added.
“Tata Power plans to invest ₹20,000 crore capex in FY25. This is over and above the ₹12,000 crore invested in FY24. A large part of this will be towards accelerating the company’s renewable energy portfolio and balance towards transmission and distribution businesses."
The company will also explore opportunities in small modular nuclear reactors, once the government gives necessary permissions, along with new distribution opportunities in other states, as and when these opportunities arise, said Chandrasekaran. It serves 12.5 million consumers through its distribution business, and is targeting to reach 50 million.
The Tata group 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 (C&I) consumers, he said.
The company is also aiming to increase its market share in the rooftop solar space under the PM Surya Ghar Yojana, and enhance its renewable energy portfolio from the current 9 GW to 15 GW within five years.
The Tata Power stock closed at ₹436.90 on Tuesday on the BSE, down 0.52% from its previous close.
