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Tata Power to set up 4 GW manufacturing facility in next 18 months: Praveer Sinha

Dr. Praveer Sinha, MD & CEO - Tata Power, said that renewable energy is the company's core competence and that he is only looking at investment for the renewable energy platform.

February 25, 2022 / 01:48 PM IST
Dr. Praveer Sinha, Managing Director (MD) and CEO - Tata Power

Dr. Praveer Sinha, Managing Director (MD) and CEO - Tata Power

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Tata Power will set up a 4 gigawatt (GW) manufacturing facility of cell and modules with an investment of nearly Rs 3,400 crore in the next 18 months, Dr Praveer Sinha, Managing Director (MD) and CEO - Tata Power, said in an exclusive interview to CNBC TV-18.

Tata Power is targeting to add 2GW of utility scale renewable projects every year, which requires nearly Rs 8,000-10,000 crore of investment, according to the CEO. ''The nature of the funding for renewables is still under finalisation, but we expect it to close by the end of the current quarter/financial year,'' said Sinha.

With the government's Rs 19,500-crore production-linked incentive (PLI) scheme and state incentives, the project is attractive and most of the investment will be used within the company's utility scales, including rooftop solar modules, EPC, explained Sinha.

Also Read: Tata Power, RWE in pact to explore potential for development of offshore wind projects in India