Tata Power to Spend Rs.25,000 Crore as Capex in FY26
CEO Praveer Sinha revealed intentions for the upcoming fiscal year, stating that Tata Power is eager to bid for two discoms in Uttar Pradesh and aims to spend Rs.25,000 crore on capital expenditures (capex) in FY26.
He stated that Tata Power is anticipating legal amendments and will move forward in accordance with them on the company's nuclear project plans.
In the March quarter of FY25, Tata Power reported a roughly 25 percent increase in consolidated net profit to Rs.1,306.09 crore, driven by robust performance in its core sectors of renewable energy, transmission and distribution, and production.
According to him, the company's FY25 capital expenditure of Rs.20,000 crore was exceeded by Rs.16,000 crore due to delays in several transmission and renewable projects.
Sinha indicates that Tata Power is expected to build 2.5–2.7 GW of capacity in FY26 after adding 2.3 GW in FY25.
In matters associated with power distribution businesses) that Uttar Pradesh is privatizing, Sinha stated that the business would look into the possibility.
Purvanchal Vidyut Vitran Nigam Ltd (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Ltd (DVVNL) are two discoms in Uttar Pradesh that the government is now working to privatize. 42 of Uttar Pradesh's 75 districts are covered by the two discoms.
Regarding Tata Power's initiative to access the US, which has increased import taxes on solar modules from China, Vietnam, and Malaysia, Sinha stated that the company has numerous ongoing orders, both internal and from third parties, that must be finished within the next six months.
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Regarding nuclear initiatives, the CEO stated that while the corporation is interested in them, no moves will be made until the law is clear.