Tata Power Seeks Hydro Projects To Ramp-Up Clean Energy Bets

Tata Power Co. is scouting for hydroelectric power opportunities in India and overseas as it looks to ramp up the share of renewable energy in its overall portfolio to more than half in the next 14 months.

- Bloomberg

"We have already identified two projects and work has started for the first project," Praveer Sinha, chief executive officer at the Tata Group-controlled firm said in an interview with Bloomberg Television.

Sinha's comments come as the Narendra Modi-led government aims to generate 500 gigawatts of power from non-fossil fuel sources by 2030 and improve the country's dubious ranking as the third largest emitter of greenhouse gases.

As of December 31, 2024, hydroelectric power accounted for about a tenth of India's energy capacity.