Tata Power Will Invest Heavily In Renewable Energy
Tata Power will invest heavily in renewable energy, power production will be two and a half times, and experts bullish on stocks.
Tata Power plans to invest Rs 75,000 crore in the renewable energy sector in the next five years.
The company intends to increase its power generation capacity to 30,000 MW during this period. Half of this production will be achieved from clean energy sources.
At present, Tata Power has a production capacity of 13,500 MW. In this, the share of renewable energy sources is 34 percent.
That is, the power generation capacity of Tata will increase by two and a half times. Also, a large part of it will come from clean energy sources.
Shareholder questioned.
Tata Power Chairman Natarajan Chandrasekaran said at the company’s annual general meeting on Thursday that we plan to invest Rs 75,000 crore in the renewable energy sector in the next five years.
He was replying to a question asked by a shareholder on the company’s future plans.
Tata Power moving towards green energy.
In his address, Chandrasekaran said that Tata Power plans to take its generation capacity to 30,000 MW by 2026-27. At present, it is 13,500 MW.
Apart from this, the company’s clean energy portfolio will increase to 60 percent by 2027, from 34 percent now. The target is to increase this to 80 percent by 2030.
He said that the company intends to invest a total of Rs 14,000 crore in the current financial year.
Out of this, Rs 10,000 crore will be invested in renewable energy. Tata Power has added 707 MW of renewable energy capacity in 2021-22.
Experts Bullish on the Stock.
The stock of Tata Power has given excellent returns in the last few months. Today the share of Tata Power is trading around Rs 216 on NSE.
Experts are bullish on Tata Power and have set a target price of Rs 250. That is, it can increase by 18 to 20 percent from the current price.
This stock of Tata Group hit its 52-week high on April 7, 2022, and reached Rs 298. At the same time, on July 28, 2021, it had fallen to a 52-week low of Rs 118.40.
