Tata Power aims to invest more than Rs 750 billion in the renewable sector over the next five years. The company intends to increase the proportion of its green portfolio to 60 percent during the next five years. It aims to boost its renewable energy portfolio to reach 80 percent by 2030. The company also plans to become carbon-neutral by the year 2045.
Recently in July 2022, Tata Power signed an MoU with the Tamil Nadu Government under which Tata Power would invest around Rs 30 billion for developing a 4 GW solar cell and solar module manufacturing unit in the state. The said greenfield facility will come up at Tamil Nadu’s Tirunelveli district. This investment would help generate over 2,000 job opportunities.
Also, in June 2022, the company installed 150 clean energy-powered electric vehicle charging stations across various locations in Mumbai including residential societies, malls, commercial complexes, and petrol pumps. These chargers use renewable energy sources like wind, solar, and hydropower for power.