Tata Power soon to be a 'force' in hybrid RE market: N Chandrasekaran

Tata Power is transitioning from a pure-play solar and wind company to become a ‘force’ in the hybrid renewable energy market and is also ready to take part in nuclear power development in future, Chairman N Chandrasekaran said on Friday.

He was addressing shareholders at the company's 106th Annual General Meeting.

On the company’s future plans, Chandrasekaran said: "The company is transitioning from being a pure-play solar and wind company to being a force in the hybrid renewable energy market."

“By offering customisable, scalable and end-to-end clean and green energy solutions, Tata Power is enabling net-zero journeys and providing round-the-clock sustainable power for industries and consumers wherever they are,” he said.

The company is also primed for the anticipated opening up of the nuclear sector for private participation, the chairman said.

In his speech, the chairman also remembered Tata Group's chairman emeritus and veteran industrialist Ratan Tata, who passed away last year in October, and expressed grief over the loss of lives in the Air India plane mishap last month.

"I would like to acknowledge the heavy loss we have faced in the recent months. Across the entire Tata Group, we honour those who lost their lives, along with all the families and loved ones affected by the AI-171 tragedy. Late last year, we also bid farewell to (Ratan) Tata," he said.

The company is also focusing on hybrid renewable solutions and round-the-clock green energy by integrating solar, wind, hydro, and storage.

Tata Power’s 4.3 Gw solar manufacturing facility in Tirunelveli, is now fully operational. It has also partnered with Bhutan’s Druk Green Power to develop 5 Gw of cross border renewable and hydropower projects.

Chandrasekaran added that the company has evolved into a consumer-facing brand with rooftop solar and EV charging solutions.