Tata Power Announces Rs 6,000 Crore Investment in Distribution Business at Make in Odisha Conclave

Tata Power CEO and MD Praveer Sinha announced that the company will invest Rs 6,000 crore in Odisha. Speaking at the Make in Odisha Conclave on Thursday, Sinha stated that the four Odisha power discoms, in which Tata Power has a majority stake, are committed to investing Rs 6,000 crore in capex over the next five years.

In addition, Sinha stated that the company will install 1,000 electric vehicle (EV) charging stations, 100,000 solar pumps, microgrids, rooftop and floating solar plants over the next five years. He praised the Odisha government's Renewable Energy Policy 2022, unveiled here at the Make In Odisha Conclave. According to the CEO of Tata Power, the company has been involved in power distribution throughout Odisha. It is committed to ensuring ease of doing business through a quality power supply.

"Tata Power is committed to ensuring 'Udyog Ru Pragati' (progress through entrepreneurship) by providing high-quality and affordable power supply to enable an environment conducive to industrial development." "Our clean and green energy products and solutions in e-mobility, decentralized generation, agriculture, and demand side management will help to ensure the state's overall sustainability," Sinha said.

He also stated that Tata Power is collaborating with Bhubaneswar Smart City Limited (BSCL) on the deployment of charging infrastructure at multi-level car parking lots and public utilities such as hospitals, universities, malls, and key city hubs. He also stated that Tata Power is in the early stages of exploring the development of green hydrogen hubs in the Paradeep region to meet industrial demands. The company also works with the state government to solarize the agriculture sector.

Across the state, the company has already installed over 700 solar pumps and 1,200 dual pumps for community drinking applications. He stated that the company intends to install 30,000 solar pumps over the next five years. Sinha, who welcomed the state's new Renewable Energy Policy 2022, stated that the incentive provisions such as electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, and state transmission utility charge waiver are very encouraging.

He stated that Tata Power is working to electrify remote villages by establishing microgrids. A technical feasibility study was conducted in several villages in the Mayurbhanj District to establish microgrids for rural/tribal economic transformation.