“From a growth perspective, the company has a clear plan with focus on renewables and distribution businesses.
Within the renewables segment, the company continues to build both the renewables’ utilities and consumer renewables businesses. As a utility-scale generator of renewable energy, the company continues to grow its EPC solar business. The company intends to add additional capacity to grow to 15 GW size in the coming few years. The Company currently has the highest ever EPC order book and is expanding solar cells and modules manufacturing capacity. It was also won over 1 GW renewables capacity projects during the year.
In the power distribution segment, under challenging operating environment, the company successfully completed the acquisition of three distribution license areas in Odisha and one more in April this financial year. In the first year itself, strong progress has been made and total number of consumers has increased to 12 million. The company now distributes power in Mumbai, Delhi, Ajmer and entire state of Odisha.
The company is on an ambitious path of sustainable growth. It would continue to evaluate various growth options in both renewables, transmission and distribution businesses.”
This quote has been extracted from the Chairman’s speech delivered at the 102nd Annual General Meeting (AGM) of Tata Power held on July 5, 2021, via video conferencing. All references to “the company” in the quote stand for Tata Power.