{"id":4332,"date":"2023-06-20T05:56:20","date_gmt":"2023-06-20T05:56:20","guid":{"rendered":"https:\/\/shoonya.com\/blog\/?p=4332"},"modified":"2024-10-28T13:12:50","modified_gmt":"2024-10-28T13:12:50","slug":"tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24","status":"publish","type":"post","link":"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/","title":{"rendered":"Tata Power News &#8211; Doubling Capex to Rs 12000 CR in FY24"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_87 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\"><\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Key_Highlights\" >Key Highlights<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Tata_Powers_Capital_Expenditure_Plans\" >Tata Power&#8217;s Capital Expenditure Plans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Tata_Power_Latest_News_%E2%80%93_Renewable_Energy_and_Distribution_Focus\" >Tata Power Latest News &#8211; Renewable Energy and Distribution Focus&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Financial_Performance_and_Growth\" >Financial Performance and Growth&nbsp;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Tata_Power_News_%E2%80%93_Future_Prospects_and_Expansion\" >Tata Power News &#8211; Future Prospects and Expansion<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/#Conclusion\" >Conclusion&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n\n<p class=\"wp-block-paragraph\">Tata Power, a leading integrated power company, has revealed its plans to double its capital expenditure in the current fiscal year to Rs 12,000 crore. The company aims to concentrate on renewable energy, distribution, transmission, and expanding its solar equipment manufacturing capacity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-key-highlights\"><span class=\"ez-toc-section\" id=\"Key_Highlights\"><\/span><strong>Key Highlights<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Tata Power to increase its capital expenditure to Rs 12,000 crore in FY24.<\/li>\n\n\n\n<li>Focus on renewable energy, distribution, transmission, and solar equipment manufacturing.<\/li>\n\n\n\n<li>Funding for projects is to come from internal accruals and cash on books.<\/li>\n\n\n\n<li>Plans to bid for power distribution business and discoms utilities in India.<\/li>\n\n\n\n<li>Striving to achieve ESG goals, including becoming Carbon Net Zero and Water Neutral.<\/li>\n\n\n\n<li>Impressive financial performance with consolidated revenue growth of 32% in FY23.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tata-power-s-capital-expenditure-plans\"><span class=\"ez-toc-section\" id=\"Tata_Powers_Capital_Expenditure_Plans\"><\/span><strong>Tata Power&#8217;s Capital Expenditure Plans<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tata Power Chairman Natarajan Chandrasekaran announced the company&#8217;s intention to invest Rs 12,000 crore, double the previous year&#8217;s capex, during the 104th annual general meeting. The investments will support various initiatives such as the upcoming 4 GW manufacturing plant, renewable projects, transmission and distribution businesses in Odisha, Delhi, and Mumbai, as well as new opportunities. The funding for these projects will primarily come from internal accruals and cash reserves.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tata-power-latest-news-renewable-energy-and-distribution-focus-nbsp\"><span class=\"ez-toc-section\" id=\"Tata_Power_Latest_News_%E2%80%93_Renewable_Energy_and_Distribution_Focus\"><\/span><strong>Tata Power Latest News &#8211; Renewable Energy and Distribution Focus<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tata Power plans to prioritise the power distribution business in India and actively participate in the privatisation opportunities that arise when policy reforms are implemented. The company aims to become an Environmental, Social, and Governance (ESG) benchmark in the power sector. It has outlined three key goals: achieving Carbon Net Zero by 2045, 100% Water Neutral by 2030, and having No Net Impact on Biodiversity before 2030. Tata Power also aspires to be a Zero Waste to Landfill organisation by 2030.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-financial-performance-and-growth-nbsp\"><span class=\"ez-toc-section\" id=\"Financial_Performance_and_Growth\"><\/span><strong>Financial Performance and Growth<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tata Power reported an impressive financial performance, with consolidated revenue growth of 32% in FY23, reaching Rs 56,033 crore. The consolidated Reported PAT (net profit) increased by 77% to Rs 3,810 crore compared to the previous year. The renewables sector witnessed significant investments globally, with USD 500 billion out of the total USD 1.11 trillion in low-carbon energy investments in 2022. In India, the power demand grew at a rapid pace, surpassing the country&#8217;s GDP growth rate by 1.11x in the last five years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tata-power-news-future-prospects-and-expansion\"><span class=\"ez-toc-section\" id=\"Tata_Power_News_%E2%80%93_Future_Prospects_and_Expansion\"><\/span><strong>Tata Power News &#8211; Future Prospects and Expansion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Tata Power aims to focus on renewables and achieve a non-fossil installed capacity of <a href=\"https:\/\/shoonya.com\/blog\/land-acquisition-for-500-gw-renewable-energy-by-2030\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\"> <\/mark><\/a><a href=\"https:\/\/shoonya.com\/blog\/land-acquisition-for-500-gw-renewable-energy-by-2030\/\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">500GW by 2030<\/mark><\/a>. It recognises the importance of renewable growth in meeting India&#8217;s power demand rather than solely replacing thermal power. The company&#8217;s solar rooftop segment has witnessed substantial growth, with revenue crossing Rs 1,000 crore in the last fiscal year. Tata Power&#8217;s distribution business remains robust, serving over 12 million customers and making it the largest private power distribution utility in India. The company also emphasises the importance of maintaining optimal capacity in conventional power plants to meet the increasing power demand during the ongoing energy transition.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion-nbsp\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Tata Power&#8217;s decision to double its capital expenditure demonstrates its commitment to renewable energy, distribution, and expansion. With ambitious goals to become an ESG benchmark and achieve significant milestones in sustainability, Tata Power is well-positioned to capitalise on the growth opportunities in the power sector. Its financial performance and focus on renewables reinforce its status as a leading integrated power player in India.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sources: <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/tata-power-mulls-to-double-capex-to-rs-12k-crore-in-fy24-focus-on-renewables-10822661.html\" rel=\"nofollow\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">moneycontrol.com<\/mark><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">________________________________________________________________<br><a href=\"https:\/\/shoonya.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0);color:#d79b30\" class=\"has-inline-color\">Disclaimer<\/mark><\/a>: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\r\n<script>function 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The company aims to concentrate on renewable energy, distribution, transmission, and expanding its solar equipment manufacturing capacity. Key Highlights Tata Power&#8217;s Capital Expenditure Plans Tata Power Chairman Natarajan Chandrasekaran announced &hellip; <a href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tata Power News &#8211; Doubling Capex to Rs 12000 CR in FY24&#8221;<\/span><\/a><\/p>\n","protected":false},"author":16,"featured_media":4333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[1082],"tags":[2091,2090],"class_list":["post-4332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-tata-power-latest-news","tag-tata-power-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tata Power News - Doubling Capex to Rs 12000 CR in FY24<\/title>\n<meta name=\"description\" content=\"Explore the exciting Tata Power Latest news as it announces its plan to invest Rs 12k Cr in FY24, focusing on renewables, distribution, and transmission.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tata Power News - Doubling Capex to Rs 12000 CR in FY24\" \/>\n<meta property=\"og:description\" content=\"Explore the exciting Tata Power Latest news as it announces its plan to invest Rs 12k Cr in FY24, focusing on renewables, distribution, and transmission.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shoonya.com\/blog\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ShoonyaApp\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-20T05:56:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-28T13:12:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shoonya.com\/blog\/wp-content\/uploads\/2023\/06\/Tata-Power-News-Doubling-Capex-to-Rs-12000-CR-in-FY24.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@shoonyaapp\" \/>\n<meta name=\"twitter:site\" content=\"@shoonyaapp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/tata-power-news-doubling-capex-to-rs-12000-cr-in-fy24\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/shoonya.com\\\/blog\\\/#\\\/schema\\\/person\\\/f136efa6e9f6500d1b76595131564b8a\"},\"headline\":\"Tata Power News &#8211; 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