Tata Power Powering Transformation
Tata Power, one of India’s largest integrated power companies, is at the forefront of the transition towards green energy
High scores across parameters such as trustworthy leadership, effective growth plan, financial returns and corporate social responsibility (CSR) have won Tata Power Company a place in the top 20 of the BW Businessworld Most Respected Companies rankings for FY23 as well.
Tata Power is at the forefront of the transition towards green energy. As one of India’s largest integrated power companies, it has gained a leadership position in the sector. The company is also firmly aligned with the country’s ambition of being net zero by 2070, demonstrating its future readiness through the adoption of technology and the development of innovative business models.
In FY23, Tata Power saw significant growth across various energy sectors. It generated 3,927 MW of renewable energy and 10,183 MW of conventional energy, showcasing its diverse energy portfolio. It boasted a transmission network of 4,194 ckm under its management, serving 12.9 million customers in distribution.
The company’s EV charging infrastructure also expanded, with over 3,700 public charging points energised in 351 cities and towns. Additionally, Tata Power executed rooftop solar projects totalling more than 1,650 MW, and their manufacturing capacity for solar cells and modules reached 4.6 GW, including ongoing expansions. This comprehensive growth reflects Tata Power's commitment to sustainability and innovation.
Fantastic Numbers
For FY23, the company delivered a strong set of numbers, with revenue growing at 32 per cent y-o-y to Rs 56,033 crore, up from Rs 42,576 crore in FY22.
"At Tata Power, clean and green energy currently accounts for 37 per cent in our generation mix, which we aim to increase to 60 per cent over the next five years. In FY23, we earmarked a capex of over Rs 7,000 crore across generation, transmission and distribution with major allocation towards augmenting renewable capacity. For FY24, we are looking at a capex of over Rs 12,000 crore, to be funded primarily from internal accruals," Praveer Sinha, CEO & MD, Tata Power Company informed in his shareholder’s address.
The company plans to achieve carbon net zero before 2045 by growing renewable generation portfolio and targeting carbon intensity reduction scientifically while aligning to the global Sustainable Development Goals.
