Tata Group is going to invest Rs 20,000 crore in Tata Power Company in the coming financial year. N Chandrasekhar made the announcement while addressing the shareholders at the company's 105th Annual General Meeting.
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Tata Group Chairman N. Chandrasekhar has made a big announcement. Tata Group is going to invest Rs 20,000 crore in Tata Power Company in the coming financial year. N Chandrasekhar made the announcement while addressing the shareholders at the company's 105th Annual General Meeting. The largest share of this investment will be invested in the renewable energy sector. After that, the other share will be invested in the power transmission and distribution sector.
Tata Group had invested 12000 thousand crores in Tata Power in this financial year 2024. Therefore, the investment in Tata Power is being increased every year by the group. Tata Power will also enter the nuclear reactor sector after getting approval from the government. Also, efforts are being made to supply electricity from Tata Power in other states.
N. Chadrasekhar, Chairman of the company said, “The company's portfolio in the clean energy sector aims to take it to 15 GW in the next 5 years. Apart from this, the company is targeting to grow its distribution business. The company currently distributes electricity to 1.2 crore people and plans to distribute electricity to 5 crore consumers in the near future.” Along with power generation, the company aims to increase its share in the power distribution sector across the country.
Shares have doubled in the last year
20,000 crore in Tata Power, the shares of the company may gain momentum. Shares of Tata Power closed at 436.90 yesterday on Tuesday. Shares of Tata Power have doubled in the past one year. Tabwal has increased from Rs 216 to Rs 436.
PM Surya Ghar Yojana is ready to connect solar power in the house. Renewable energy sector is growing in the country now. As the government is also promoting renewable energy generation, many companies are also entering this renewable energy sector. Therefore, Tata Power's emphasis on investment growth is a very important step for the company.
