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Tata Power is expecting its total power generating capacity to cross 18,000 MW in the next 24 months, with the renewables segment contributing the maximum to the growth.
The company’s current capacity is 14,381 MW, of which thermal energy is 8,860 MW and 3191 MW is solar. Another 3,760 MW of renewable capacity is under construction.
Talking to media at Bhivpuri in Maharashtra, where it is setting up a pump storage hydro project, MD and CEO Praveer Sinha said that the company had won some bids in the renewables segment last week that would be taking it closer to its target of over 20 GW renewable capacity by 2030. It announced receiving a letter of award for developing a 200 MW Firm and Dispatchable Renewable Energy project with SJVN.
Renewable Focus
Group captives account for a third of its renewable energy pipeline.
The company has projected a capex of ₹60,000 crore till FY27 and about 45 per cent of this will be spent on renewables. Sinha made it clear that the bulk of capacity additions will be in the green energy segment.
Tata Power Solar is seen reporting revenue of ₹17,000 crore in FY27 while the aim is to take that to ₹20,000 crore by FY30. For the company as a whole, Sinha said that the revenue is expected to cross ₹60,000 crore soon. In the first half of FY24, it reported revenue of ₹30,446 crore
Another area that it is focusing on is pump storage hydropower projects. In August it announced the two projects, one at Bhivpuri and another at Shirawta, the combined capacity being 2.8 GW at a total investment of ₹13,000 crore.
Pumped storage hydropower works on the principle of two reservoirs at different elevations, generating power as the water moves down from one to the other. It works like a battery as it can store power and release it when required. In India, the current installed capacity of pumped storage hydro plants is just under 5 GW compared to a potential of 97 GW.
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