Tata Power, the leading energy company of the Tata Group, has announced plans to invest Rs 60,000 crore over the next three years, with half of the investment going into renewable energy. The company’s CEO and Managing Director, Praveer Sinha, shared this information on Tuesday. He stated that the company will not start any new coal-based plants during this period. In the fiscal year 2024, Tata Power plans to invest Rs 15,000 crore, which will increase to around Rs 20,000 crore in the fiscal year 2024-25. The company will further invest Rs 22,000 crore in 2025-26 and Rs 23,000 crore in 2026-27. This means that Tata Power’s total capital expenditure will exceed Rs 60,000 crore in the next three fiscal years.
Sinha also revealed the company’s plans, stating that they are exploring the possibilities of three projects with a capacity of 9,000 megawatts, including the announcement of setting up two pumped hydro storage projects with an investment of Rs 13,000 crore and a capacity of 2,800 megawatts in the Raigad district of Maharashtra. Furthermore, the company has not made any purchase agreements for electricity produced by two power stations located in Bhivpuri and Shiravata. Sinha hinted at connecting these projects to solar and wind energy capacities as well. Currently, Tata Power’s shares are trading at around Rs 270. The share price has increased by 13% or Rs 31 in one month and is up by 24% over the past six months.
Tata Power Share Price 30 November 2023:
1. Tata Power, a major energy company of the Tata Group, plans to invest Rs 60,000 crore in the next three years.
2. Out of this investment, half will be dedicated to renewable energy.
3. The CEO and Managing Director of the company, Praveer Sinha, revealed this information on Tuesday.
4. Sinha mentioned that the company will not start any new coal-based plants during this period.
5. In the financial year 2024, Tata Power plans to invest Rs 15,000 crore, which will increase to around Rs 20,000 crore in the financial year 2024-25.
6. The company will further invest Rs 22,000 crore in the year 2025-26 and Rs 23,000 crore in the year 2026-27.
7. This way, Tata Power’s total capital expenditure will exceed Rs 60,000 crore in the next three financial years.
8. Sinha stated that the company is exploring possibilities for three projects with a capacity of 9,000 megawatts, including the establishment of two pumped hydro storage projects with an investment of Rs 13,000 crore and a capacity of 2,800 megawatts in the Raigad district of Maharashtra.
9. In addition to this, the company has not made any purchase agreements for electricity generated from two power stations in Bhivpuri and Shirwata.
10. Sinha also hinted at connecting these projects with solar and wind energy capacity.
11. Currently, Tata Power’s shares are trading around Rs 270. The share price has increased by 13% or Rs 31 in one month and is up by 24% in six months.
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