Tata Power eyes $5b investment in renewables

It targets to boosts its renewables capacity four-fold to 12GW by 2028.

Indian power utility Tata Power is targeting to inject as much as $5b to push its renewable energy capacity four-fold to 12,000MW by 2028.

According to CEO Praveer Sinha, this would entail an investment of as much as $594,000 per megawatt. He added that the bulk of their targeted increase will come from solar: both utility-level large-scale projects and residential and commercial rooftops.

Tata Power is expecting to break even soon on its flagship 4GW Mundra power plant.