1.Increased Capital Expenditure: Tata Power plans a 66% higher capital expenditure of Rs 20,000 crore in the current fiscal year compared to the previous year, focusing on projects supporting India's energy transition and net-zero emission target by 2070.
2.Allocation of Investments: Approximately 50% of the planned capital expenditure will be directed towards renewable energy projects, with the remainder allocated to transmission, distribution, and conventional projects.
3.Funding Strategy: The company intends to finance the capital expenditure through internal accruals and some debt.
4.Financial Performance: Tata Power reported an 11% increase in consolidated net profit to Rs 1,046 crore in the March 2024 quarter compared to the previous year, driven by higher revenues.
5.Renewable Energy Initiatives: Tata Power's renewable energy segment includes operational capacity of 4.5 GW and another 5.5 GW under implementation, aiming for a total green energy portfolio of over 10 GW.
6.Transmission Infrastructure: The company has a significant transmission lines portfolio of 6,277 Ckm, with additional capacity in the pipeline.
7.Strategic Projects: Tata Power secured two projects worth Rs 2,300 crore under Tariff-Based Competitive Bidding (TBCB) process, reflecting its commitment to expanding its footprint in the renewable energy sector.
#Tata power #solar energy #green energy #renewable energy