Aniket PujariNo longer just a conventional power provider, the company has emerged as a leading force in India’s clean energy transition. With ambitious expansion plans, strategic partnerships, and cutting-edge innovations, Tata Power is setting a benchmark for sustainable energy.
As India races toward its 500 GW renewable energy target by 2030, Tata Power is placing itself at the forefront of this revolution, ensuring its portfolio is dominated by green energy sources.
A 7 GW mega project in Andhra Pradesh
In a landmark move, Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed an MoU with the Andhra Pradesh government to develop 7 GW of renewable energy projects.
The initiative, valued at an estimated ₹49,000 crore, will be spread across four districts: Kadapa, Kurnool, Anantapur, and Prakasam.
This mega-project will comprise 4.2 GW of solar energy and 2.8 GW of wind power. It is expected to generate ₹3,000 crore in revenue for the state through SGST and create approximately 33,000 jobs across various phases.
The projects align with Andhra Pradesh’s Integrated Clean Energy (ICE) Policy, which envisions the development of over 160 GW of renewable capacity with an investment potential of ₹10 lakh crore.
TPREL’s investment in the state will not be limited to large-scale renewable installations. The company also plans to enhance rooftop solar adoption and expand its EV charging infrastructure, further supporting Andhra Pradesh’s green ambitions.
Investments in green energy expansion
Tata Power has unveiled a massive capex plan of ₹1.46 lakh crore over the next five years, with 65% of its energy mix expected to be renewable by 2030.
The company aims to increase its renewable capacity from 6.7 GW to 33 GW, including 10 GW in ongoing projects across solar, hydro, hybrid, and pumped storage.
Among its most significant initiatives is a $4.25 billion financing deal with the Asian Development Bank (ADB). The funds will be directed toward several large-scale clean energy projects, including a 966 MW solar-wind hybrid system and pumped hydro storage ventures. This strategic partnership underscores Tata Power’s commitment to decarbonisation and sustainable growth.
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The company is also focusing on group captive projects that allow industries to source renewable energy at competitive prices, ensuring stable and cost-effective power supply.
As the demand for round-the-clock renewable power grows, Tata Power is investing in hybrid solutions that integrate battery storage and hydro solutions to provide a stable power supply even when solar or wind resources are unavailable.
Huge push in Assam and Rajasthan
Tata Power’s renewable energy expansion is not limited to Andhra Pradesh.
In Assam, the company has pledged an investment of ₹30,000 crore to establish 5 GW of renewable energy projects, including solar, wind, hydro, and energy storage solutions.
The Assam government has assured land allocation and infrastructure support to facilitate the initiative, which will generate thousands of jobs while contributing to the state’s energy security.
Similarly, in Rajasthan, Tata Power has committed a staggering ₹1.2 trillion to renewable energy projects, power distribution, and transmission infrastructure. The investments will include 10 GW of renewable capacity and a 2 GW solar module manufacturing unit in Jodhpur.
Additionally, the company will install 100,000 EV charging stations across the state, reinforcing Rajasthan’s ambition to become a green energy powerhouse.
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Tata Power’s solar vision
A critical pillar of Tata Power’s renewable expansion is its aggressive solar energy push. The company recently inaugurated a 4.3 GW solar cell and module manufacturing facility in Tamil Nadu, making it India’s largest single-location solar manufacturing plant. The facility utilizes high-efficiency TOPCon and Mono PERC technologies, catering to India’s growing solar demand.
Moreover, Tata Power has pioneered floating solar technology, successfully commissioning a 126 MW floating solar project in Madhya Pradesh. The Omkareshwar Floating Solar Project, one of the largest in India, represents a milestone in optimising water surface utilization for clean energy generation.
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Additionally, rooftop solar adoption is a key focus area, with Tata Power partnering with Canara Bank and IndusInd Bank to offer easy financing solutions for micro, small, and medium enterprises (MSMEs) and residential consumers under the PM Surya Ghar Muft Bijli Yojana.
Hydro surge: 5 GW partnership with Bhutan
While solar and wind dominate Tata Power’s green portfolio, hydropower remains integral to its strategy.
The company has expanded its hydroelectric footprint through a 5,000 MW clean energy partnership with Bhutan’s Druk Green Power Corporation. This initiative includes 4,500 MW of hydro projects and 500 MW of solar capacity, further strengthening regional energy security.
Tata Power’s longstanding collaboration with Bhutan dates back to the 126 MW Dagachhu Hydropower Plant, a pioneering public-private partnership.
With the newly signed agreements, the company is poised to play a crucial role in Bhutan’s goal of expanding its clean energy generation capacity to 25,000 MW by 2040.
Revolutionising EV charging and battery storage
Recognising the symbiotic relationship between renewable energy and electric mobility, Tata Power is making significant strides in EV infrastructure.
It has signed multiple agreements to expand its EV charging network, including a partnership with Tivolt Electric Vehicles to enhance charging solutions for commercial EVs.
Additionally, Tata Power Renewable Energy has entered into a strategic alliance with ONGC to explore battery energy storage solutions (BESS).
This collaboration will facilitate grid stabilisation, renewable energy integration, and large-scale energy storage systems, ensuring consistent power supply even during fluctuations in solar and wind output.
Sustainability and ESG commitments
Tata Power is not just focusing on renewable energy expansion but is embedding sustainability into its core operations. The company has committed to achieving carbon neutrality before 2045, making it the first Indian power utility to set such an aggressive net-zero target.
Its ESG commitments extend to water neutrality and waste management, with plans to achieve zero waste to landfill by 2030.
Conclusion
Tata Power’s aggressive push into renewable energy, supported by strategic investments, technological advancements, and strong government collaborations, positions it as a key driver of India’s clean energy transformation.
From large-scale solar and wind projects to innovative floating solar and hydro initiatives, the company’s commitment to sustainability is unparalleled.
With ambitious targets and a robust execution plan, Tata Power is not just keeping pace with India’s energy transition—it is defining it. As the nation moves toward a greener and more sustainable future, Tata Power remains a formidable force in shaping the renewable energy landscape.
About the author: Suchitra Mandal is a proficient financial writer with expertise in delivering well-researched insights and detailed analyses of companies’ performance and market trends.
Disclosure: The author does not hold any shares of Tata Power at the time of writing this article. The views expressed are for informational purposes only and should not be considered investment advice. Readers are encouraged to conduct their own research and consult a financial professional before making any investment decisions.
