Tata Power To Invest Rs 1.46L Cr To Scale Up Capacity To 32 GW By 2030

New Delhi: Tata Power plans to invest around Rs 1.46 lakh crore to double its operational capacity to 32 GW by 2030, its CEO and MD Praveer Sinha said on Friday.

In FY24, Tata Power’s installed capacity stood at 15.6 GW, of which 6.7 GW was renewables, Sinha said in a media interaction at the company’s cell module plant in Tirunelveli, Tamil Nadu. On the company’s targets for 2030, he said the vision is to scale up the operational capacity to 31.9 GW, with renewables having a major share of 23 GW.

Tata Power is also working in the transmission segment, keeping the country’s vision for this segment in the energy space, Sinha said. The company plans to increase its transmission line capacity to 10,500 ckm from 4,633 ckm in FY24. In distribution, Tata Power aims to reach a customer base of 40 million from 12.5 million, the CEO said.

Tata Power has a planned capex of Rs 1,46,000 crore for FY25-FY30. For the ongoing fiscal, the capex is Rs 21,000 crore and Rs 26,000 crore for the next financial year. “Our 60 per cent of the capex will be spent on renewables during the period,” he added. Tata Power is targeting a revenue of Rs 1 lakh crore by 2030 from Rs 61,542 crore in FY24 and Rs 10,000 crore profit after tax (PAT) from Rs 4,100 crore in the year ended March 31, 2024. Sinha also informed that the cell and module plant in Tamil Nadu was set up at an investment of Rs 4,300 crore through its step-down subsidiary TP Solar Ltd. Spread over an area of 317 acres, the unit has a capacity of 4.3 GW cells and 4.3 GW modules. The unit is one of the largest single-location cell and module manufacturing facilities in India, Sinha said. “The facility is equipped with cutting-edge TOPCon (Tunnel Oxide Passivated Contact) and Mono PERC (Passivated Emitter and Rear Cell) technologies for high-efficiency bifacial solar cells,” he added.

The module production line was commissioned in October 2023 and has already produced 1250 MW of solar modules so far. The solar cell production line is now operational with a capacity of 4 GW. Bifacial Technology allows the panels to generate electricity from the front and rear sides.