Small modular nuclear reactors and expansion opportunities for discoms will increase
· Consumer business will increase focus in emerging clean energy space.
Mumbai, 16 July, 2024: Tata Power, one of India's leading integrated power companies, today organized its 105th Annual General Meeting (AGM) of shareholders for the financial year 2023-24.
Mr. Natarajan Chandrasekaran, Chairman of the company, while giving a speech to the shareholders said that, The company's strong financial and operational performance underpins its continued growth, Demonstrates commitment to financial understanding and project execution expertise. Tata Power to invest Rs 20,000 crore capex in FY25' : N Chandrasekaran, Chairman at Company's 105th AGM.
Tata Power in FY 2024-25 Rs. 20000 crore is planned to be invested. Which in the financial year 2023-24 invested Rs. 12000 crores is more. A major portion of this investment will be spent on accelerating the company's renewable energy portfolio and balancing the transmission and distribution businesses. In addition to new distribution expansion opportunities in other states, the company will explore partnership opportunities in small modular nuclear reactors if the government grants necessary permissions. Opportunities will be enhanced in alignment with government policies.
Key Excerpts:
Energy Transmission Leadership: The company is well-positioned to lead India's green energy, with a particular focus on providing renewable energy to industrial and commercial customers.
Rooftop Solar Expansion: Aiming to expand market based on PM Surya Ghar Yojana with aggressive growth in rooftop solar
Consumer focus: Aiming to cover 50 million customers through expansion of distribution business, Currently, 12.5 million customers.
Performance and future plans: Consolidated revenue increased by 10 percent to Rs. 61542 crores, Net profit rose 12 percent to Rs. 4280 crores. The company has been continuously striving to strengthen its balance sheet, And equity even after funding its growth plans <Maintained net debt at 1.
Renewable Energy: Target to achieve 15 GW clean energy portfolio within five years through new and operational projects, Currently a portfolio of 9 GW.
Manufacturing: 4.3 GW solar cell and module manufacturing plant set up in Tamil Nadu
EV charging: Leading with home chargers in over 86000 households with over 530 cities installing 5500 public and captive chargers
Rooftop Solar: Under PM Surya Ghar Yojana, houses are equipped to solarize through Ghar Ghar Solar. Rs. Implemented more than 2 GW of rooftop projects with an order book of 2800 crores. Based on his performance, the board of directors of the company has given Rs. For shares having a face value of 1 per share Rs. 2 recommended to distribute dividend.
