Mumbai: India's largest industrial conglomerate is the Tata Group. They are going to take a big step in green energy or renewable energy sector. Tata Power is one of the main companies of the Tata Group. In the current financial year, Tata Power's capital expenditure (capex) investment is set to almost double as compared to last year. On Tuesday (July 16), the company had a meeting of shareholders. There Tata Power Chairman, N Chandrasekaran said this time they will invest Rs 20,000 crore in capital expenditure. Funds for this will be raised through borrowings and internal cash flow of the company. Majority of this investment will go to green energy sector. That is, Tata wants to create a strong base in the green energy market. And who dominates this energy sector now? Reliance Industries and Adani Group. That is, Ratan Tata is going to directly challenge Ambani, Adani.
Reliance Industries has already committed major investments in this sector. In 2022, Mukesh Ambani said that he will invest 75 billion dollars (more than 6 lakh crore rupees) in clean energy projects in the next 15 years. Reliance has big plans for green energy sector. From solar power generation to green hydrogen production and distribution, Ambani has a wide range of ideas. Four plants are currently under construction at the Dhirubhai Ambani Green Energy Complex in Jamnagar, Gujarat.
On the other hand, Gautam Adani has also promised to invest Rs 2.3 lakh crore in this sector by 2030. According to a recent report, Adani Group will invest $9 billion (over Rs 75,000 crore) in the green hydrogen business. About 33 thousand crore rupees will be spent for the construction of machinery and factories. The remaining amount will be used to build a 5 GW electrolyzer manufacturing capacity.
Tata Group is also going to invest heavily in the green energy sector. The move is believed to signal a new chapter in the company's history. It is clear that Tata is prioritizing the renewable energy sector. They are poised to become one of India's strongest competitors in this sector. Till now, it was thought that the fight in this sector is Adani-Ambani duel. This time Tata appeared as the third party in this fight. India is considered to benefit from this. Because, this competition can lead to positive results such as technological progress, cost reduction, and innovation and efficiency in green energy projects.
