Tata Power has announced plans to significantly boost its renewable energy capacity over the next few years. The company intends to invest between $8.36 billion and $8.95 billion (700 billion to 750 billion rupees) to more than quadruple its renewable energy output to over 20 gigawatts (GW) by the year 2030. This major expansion will be a key part of Tata Power’s strategy to position itself as a dominant player in the renewable energy sector, according to CEO Praveer Sinha.
At present, Tata Power operates approximately 5 GW of renewable energy capacity in large-scale projects. The company aims to add an additional 5 GW of renewable energy capacity within the next one to two years, and ultimately reach over 20 GW by the end of the decade. This ambitious plan is designed to help the company contribute significantly to India’s renewable energy goals, which align with the government’s broader national agenda to reduce carbon emissions and combat climate change.
Sinha emphasized the importance of renewable energy to the company’s long-term growth strategy, saying, “Renewables are central to our expansion, and for the coming decades, we foresee ourselves as a key player in this sector.” As part of this transition, Tata Power is not only increasing its renewable energy capacity but also working towards making its entire power generation portfolio clean by 2045.
In addition to its renewable energy portfolio, Tata Power has a significant presence in traditional energy sources, operating more than 8.8 GW of power generation capacity through thermal power plants. However, the company is committed to phasing out its reliance on coal and other fossil fuels in favor of cleaner energy sources. Achieving 100% clean power generation by the fiscal year 2045 is one of its primary long-term objectives.
Tata Power’s strategic roadmap includes a focus on providing customized energy solutions, especially those aimed at offering round-the-clock clean power. To this end, the company is developing systems that combine solar and wind energy with advanced battery storage technologies and pumped storage solutions. These initiatives aim to deliver continuous power supply, overcoming the intermittent nature of renewable sources like solar and wind.
This expansion of renewable capacity by Tata Power aligns with India’s broader energy goals. The Indian government has set an ambitious target to add at least 500 GW of renewable energy by 2030. This target is part of India’s efforts to reduce greenhouse gas emissions and transition toward a more sustainable energy future. Indian companies, like Tata Power, are playing a critical role in this transition by ramping up their renewable energy investments and reducing their carbon footprints.
Tata Power is one of India’s largest integrated power companies, offering a range of services across the energy value chain, including generation, transmission, and distribution. With a strong focus on renewable energy, the company is expanding its clean energy portfolio, aiming to achieve 100% clean power by 2045. Tata Power is part of the prestigious Tata Group.
