Tata Power plans $5 billion investment into renewable capacity

• 6 years ago (2018-05-16)
• David Flin

Asia 892 Solar 273

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Tata Power, one of India’s largest private power utilities, has said that it plans to invest up to $5 billion into increasing its renewable capacity fourfold. Praveer Sinha, CEO of Tata Power, said that the power utility plans to increase it renewable energy capacity to 12 GW by 2028, requiring a total investment of up to $5.3 billion.

Sinha said: “Renewables is our big space. This is something that we want to go big in. The bulk of the increase will come from solar. It will be utility-level large projects as well as residential and commercial rooftops.”

The company has previously said it expects half of its capacity to be based on non-fossil fuels by 2025, compared with about 30 per cent currently. This comes alongside a push by Narendra Modi, India’s Prime Minister, to more than double India’s renewable power capacity to 175 MW.