Tata Power plans US$5bil push to boost renewable capacity

MUMBAI: Tata Power Co, one of India’s largest private power utilities, is planning to invest as much as US$5bil to ramp up its renewable capacity four-fold, according to its top executive.

The 103-year-old power utility plans to increase its clean-energy capacity to 12,000 megawatts by 2028, chief executive officer Praveer Sinha said. That would require an investment of as much as 40 million rupees (US$594,000) a megawatt, he said. According to Bloomberg calculations, that works out to a total investment of as much as 360 billion rupees.