Tata Group: After Reliance and Adani Group, now Tata Group is also going to play a big bet in the green energy sector. Group company Tata Power has announced to spend Rs 20,000 crore on capex this year. Most of this money will go into green energy portfolio.
Also Read – yes bank share price target for long term
Highlights
- Tata Group preparing to play big bet in green energy
- Plan to spend Rs 20 thousand crore on capex this year
- Most of this money will go into green energy portfolios
The country’s largest industrial house Tata Group is preparing to play a big bet in the renewable energy sector. Group company Tata Power has announced to spend Rs 20,000 crore on capex in this financial year.
This amount is almost double that of last year. Most of this amount will be spent on strengthening the renewable energy portfolio. Funds for capex will be financed through debt and company cash flow. Company Chairman N Chandrasekaran said this in the shareholders’ meeting on Tuesday. Tata Group will compete with Reliance Industries and Adani Group in the green energy sector.
Mukesh Ambani’s company Reliance Industries and Gautam Adani-led Adani Group have announced major investments in the renewable energy sector. Reliance Industries has announced an investment of $75 billion in green energy. Adani Group has announced an investment of Rs 2.3 lakh crore by 2030.
According to a recent report, Adani Group has planned an investment of nine billion dollars for the first phase of green hydrogen business. Out of this, four billion dollars will be invested in machinery, manufacturing plants etc. while five billion dollars will be spent on the development of 5 GW electrolyzer making capacity.
AMBANI KI YOJNA
Reliance is building giga-factories for the entire green energy value chain from solar power generation to green hydrogen production and its distribution and consumption. Ambani is known for implementing any business change in a forceful manner. During the last decade, he transformed Reliance from an energy giant to a consumer services leader.
With its world-class execution capabilities and debt-free balance sheet, Reliance has begun investing in the clean energy sector. Four giga-factories are under construction at the Dhirubhai Ambani Green Energy Complex in Jamnagar, Gujarat.
