Praveer Sinha, MD & CEO of Tata Power, foresees a robust 8-9% growth in power and energy demand as the peak summer season approaches. With an estimated peak power capacity of about 260 GW, the company declared readiness to meet heightened electricity needs.
Sinha highlighted the significance of Section 11 implementation, ensuring optimal utilisation of power plants at full capacity. Tata Power's strategic investments in Odisha's distribution companies are expected to yield tangible results in the fiscal year 2025.
Additionally, the company announced the imminent operationalisation of its cell manufacturing plant by June. Sinha underscores Tata Power's commitment to sustained performance, with future capital expenditure primarily directed towards renewable energy projects.
Looking ahead, Tata Power plans to commence construction on pumped hydro capacity in 2025, emphasising its dedication to ensuring 24x7 availability of renewable power. Sinha also expressed optimism about potential collaborations with the United States on energy transition and decarbonisation initiatives.
Furthermore, Sinha hopes for expedited completion and establishment of power projects under the next government, underscoring the need for accelerated progress in the energy sector.
