Tata Power plans to double capex this financial year to Rs 12,000 crore

Tata Power is planning to invest about Rs 12,000 crore this financial year, which is double the Capex spent in FY23. Given the company’s successful track record in turning around Discoms, it will look to participate in privatisation opportunities as and when the policy reforms are undertaken. 

Tata Power is well transitioning to become a round-the-clock green energy solutions provider. It is developing clean energy solutions like battery storage and pumped hydro projects for its commercial and industrial consumers. 

The company is exploring new technologies such as offshore wind, and green hydrogen to ensure stable, reliable, and consistent supply from renewable power sources. Tata Power, over the years, has continued its pursuit of excellence, growth and technological advancement. The company continues to deliver on all its stated commitments across financial, operational, and ESG metrics. 

Recently, Tata Power Company Limited through its step-down subsidiary TP Vardhaman Surya Limited received a letter of award to set up 966 MW RTC (Round-the[1]clock) hybrid renewable power for Tata Steel. The company stated that this is one of the country’s biggest industrial RTC power PPAs under the group captive segment. The project has a hybrid renewable capacity of 379 MW solar and 587 MW wind power. 

Tata Power Company Limited is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. 

Today, the stock opened at Rs 224.95 and made a high and low of Rs 225.15 and Rs 222.25 respectively. Currently, the stock is trading at Rs 222.40, down by 0.91%. The stock has a 52-week high of Rs 251 and a 52-week low of 182.45.