Connect with us

The Plunge Daily

Tata Power announces Rs 6,000 crore investment in Odisha

Tata Power announces Rs 6,000 crore investment in Odisha


Tata Power announces Rs 6,000 crore investment in Odisha

Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha.

Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next five years. Sinha said the company will also set up 1,000 electric vehicle (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop and floating solar plants in the next five years.

Also read: Civil aviation min notifies operational guidelines for drone PLI scheme

He welcomed the Odisha government’s Renewable Energy Policy 2022 unveiled at the Make In Odisha Conclave here. The Tata Power CEO said the company has been engaged in power distribution across Odisha and is committed to ensure ease-of-doing business through quality power supply. “Tata Power is committed to ensure ‘Udyog Ru Pragati’ (progress through entrepreneurship) by offering high-quality and affordable power supply to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralised generation, agriculture, and demand side management will further ensure an all-round sustainable development of the state,” Sinha said.

He said Tata Power is also working with Bhubaneswar Smart City Limited (BSCL) in deploying charging infrastructure at multi-level car parking lots and public utilities like hospitals, universities, malls, and at important city hubs. The company is also in early stages to explore the development of green hydrogen hubs in the Paradeep region to meet industrial demands, he said, adding that Tata Power is also working towards the solarization of the agriculture sector in association with the state government.

The company has already installed over 700 solar pumps in addition to 1,200 dual pump for community drinking application across the state. It has planned to install 30,000 solar pumps over the next five years, he said. Welcoming the state’s new Renewable Energy Policy 2022, Sinha said the incentives provisions like electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, state transmission utility charge waiver are very encouraging.

He said Tata Power is working towards the electrification of remote villages by setting up microgrids. A technical feasibility study has been carried out in several villages in the Mayurbhanj District to set up microgrids for transformation of the rural/ tribal economy.

1 Comment

1 Comment

  1. Pingback: Fintech firm Kreditbee raises USD 80 million

Leave a Reply

Your email address will not be published.

To Top