In the current fiscal year, Tata Power intends to increase its capital spending to Rs 12,000 crore, with an emphasis on expanding its manufacturing capabilities for solar equipment, distribution, and transmission.
“To meet the growth targets, your company (Tata Power) plans to invest about Rs 12,000 crore, which is double the capex spent in FY23,” Tata Power Chairman Natarajan Chandrasekaran said while addressing the 104th annual general meeting.
This capex, he informed, includes the investment in the upcoming 4 GW manufacturing plant, under-construction renewable projects, transmission and distribution businesses in Odisha, Delhi and Mumbai, and new opportunities.
“Your company plans to fund these projects largely from internal accruals and cash on books,” he told the shareholders
He assured that the 4 GW cell and module manufacturing plant in Tamil Nadu is well on track, and we expect the module line to be ready by October 2023 and the cell line by the end of the year.
