Tata Power plans to invest Rs 6,000 crore in Odisha over the next five years in EV charging, microgrids, and other projects
- ByStartupStory | December 3, 2022
Tata Power’s CEO and MD, Praveer Sinha, declared that the business 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 share, 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 vehicles (EV) charge stations, 100,000 solar pumps, microgrids, and rooftop and floating solar plants over the next five years. He praised the Odisha government’s Renewable Energy Policy 2022, which was revealed here at the Make in Odisha Conclave. According to the CEO of Tata Electricity, the company has been involved in power distribution throughout Odisha and is committed to ensuring ease of doing business through quality power supplies.
“Tata Power is committed to ensuring ‘Udyog Ru Pragati’ (progress through entrepreneurship) by offering high-quality and affordable power supplies to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralized generation, agriculture, and demand side management will further ensure all-round sustainable development of the state,” Sinha said.
He further stated that Tata Power is collaborating with Bhubaneswar Smart City Limited (BSCL) on the deployment of charging infrastructure in multi-level auto parking lots and public utilities such as hospitals, universities, malls, and key city centers.
He further stated that Tata Power is in the early phases of exploring the construction of green hydrogen hubs in the Paradeep region to fulfill industrial demands and that the company is also collaborating with the state government to solarize the agriculture sector. Across the state, the company has already installed over 700 solar pumps and 1,200 twin pumps for community drinking applications. He stated that the company intends to deploy 30,000 solar pumps during the next five years.
Sinha, who welcomed the state’s new Renewable Energy Policy 2022, stated that the incentive provisions such as the electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, and state transmission utility charge waiver are highly encouraging. He stated that Tata Power is attempting to electrify rural areas by establishing microgrids. A technical feasibility assessment was conducted in various villages in the Mayurbhanj District to establish microgrids for rural and tribal economic development.
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