MUMBAI: Tata Power will develop pumped Hydro Storage at its existing hydro plants in Lonavala/ Pune, where the existing water reservoirs will be used. This was announced during the company’s 104th AGM on Monday.
“The company will double its capex this financial year to Rs 12,000 crore, well positioned to lead green energy transition,” said Tata Power chairman N. Chandrasekaran. He added that Tata Power is also focusing on growing its business footprint through emerging technologies like pumped Hydro Storage, Offshore Wind and Green hydrogen. It is also exploring new technologies like small modular nuclear reactors.
The company is presently developing clean energy solutions like battery storage, pumped hydro projects for its commercial and industrial consumers. It is establishing new-age energy solutions such as Solar Rooftop, Electric Vehicle (EV) Chargers, and Energy Management Solutions. To meet the supply chain challenges of Solar Module and Cell, Tata Power is setting up 4 GW greenfield solar cell and module manufacturing capacity in Tamil Nadu with an investment of around Rs 3,000 crore.
Tata Power is a leading solar rooftop provider in India with installed capacity of almost 1,650 MW, an official said. The company’s network is spread over 275 districts and 450+ dealers across India. The Company is driving new green power solutions such as Green Open Access, hybrid solutions and round the clock power solutions for commercial and industrial consumers.
Tata Power also plans to expand its EV Charging points to more than 25,000 over the next 5 years, the official said. As the largest EV charging point operator with nearly 60% market share in the country, the Company has installed 40,000+ home chargers, over 4000 public and semi-public charging points, and 250 bus charging points. It is present in 550 cities and expanding.
