Tata Power continues to stand out as a ray of light in India’s renewable energy scene as the globe struggles with the pressing need to switch to sustainable energy sources. This major integrated power company leads toward a greener future, laying an example for others to follow with its clear vision and ambitious ambitions.
Here is everything you need to know about how Tata Power is coping with India’s transition to renewable energy.
Tata Power’s Transition Effort for Renewable Energy in India
Here is how the company is working towards making India greener with renewable energy. This also reflects positively on Tata Power Share Price, which is at present around Rs. 400+.
Clean Energy Portfolio
At 5.5 GW, or 38% of its total capacity, Tata Power has an attractive clean energy portfolio as of August 2024. With a target of 20 GW of renewable energy by 2030, the company aims to boost this percentage significantly.
With the growth in its large-scale renewable energy portfolio, improved Transmission & Distribution assets profitability, and expanding potential in the group captive and solar rooftop segments, the company’s management is optimistic about tripling its revenue, EBITDA, and PAT by FY27.
Source: economictimes
Embracing Wind and Solar Power
Tata Power has advanced significantly in its use of solar and wind energy. The firm is at the forefront of wind power promotion in India, with installations spanning seven states and an installed capacity of 1034 MW. Tata Power also has a significant order book of around Rs 100 billion in procurement, solar engineering, and construction (EPC) (excluding own projects).
Source: tatapower.com
Investing in Storage Solutions
Tata Power has strategically invested in storage systems to guarantee the availability and dependability of sustainable energy. With a combined capacity of 2.8 GW, the business has committed Rs 13,000 crore to two Pumped Hydro Storage Projects.
These projects are essential for providing mixed Round The Clock (RTC) energy from renewable sources to meet the demand for stable and dependable clean energy.
Source: pv-magazine-india.com
Expanding the Clean Energy Value Chain
Beyond only producing electricity at the grid scale, Tata Power is dedicated to renewable energy. With a focus on solar pumps, rooftops, and electric car charging infrastructure, the company has broadened its activities along the clean energy value chain.
Tata Power is making great progress in promoting sustainable energy alternatives, as seen by the installation of over 100,000 solar pumps and almost 4,500 public EV chargers.
Source: ieefa.org
Investing in Solar Module Manufacturing
As part of the government’s production-linked incentive program, Tata Power is establishing a 4 GW solar module manufacturing capacity to strengthen its renewable energy capabilities further. This move creates the potential to serve the expanding local and international market for solar modules and provide cost management for its renewable energy activities.
Attracting Global Investments
Investors worldwide have noticed Tata Power’s clean energy projects because they see the company’s potential to promote sustainable growth. The company’s pledge to become carbon net zero by 2045 has raised the bar for sustainable energy usage in India.
Source: tatapower.com
Tata Power’s SIA Fest
The SIA Fest, a celebration of India’s accomplishments and a call to action for a greener future, was recently organized by Tata Power and News18 in honor of the nation’s leadership position in the worldwide green energy transition. This incident made clear how crucial it is for everyone to work together to accelerate the switch to renewable energy.
Conclusion
The success of Tata Power is evidence that environmental care and economic prosperity can coexist as the company leads India’s renewable energy revolution. Tata Power is leading the road towards a sustainable future that benefits not only India but the entire world by investing in state-of-the-art technology, establishing high goals, and growing its clean energy value chain. If you wish to invest in this stock open a demat account first to get started.
