Tata Power, an Indian power provider, is riding significantly on the “great possibilities” that the South Asian country of more than 1.3 billion individuals offers in the area of renewable, with plans to increase its green energy holdings from 4 gigawatts to 25 gigawatts by 2030. In an exclusive interview with Nikkei Asia, Praveer Sinha, CEO and managing director of Tata Power said that renewable energy is a “very good source” of energy for a country like India, attempting to point out that several areas of the nation have a lot of sunshine all year, unlike Europe, that has a lot of snowfall and cloudy days. “This is a critical opportunity for us to leverage and explore how we can improve our generation via renewable sources.”
Sinha stated that the company’s goal is to provide “great 24-7 renewable solutions” to consumers using a combination of solar, wind, and other power sources while also providing a variety of services. To fulfill its 2030 aim, the power generation division of India’s biggest conglomerate, Tata Group, expects to generate 2 GW of orders every year. Tata Power’s clean energy portfolio currently accounts for 30% of its total portfolio, which it intends to increase by 2025.
The firm said that its solar division had received orders for 100 MW of solar projects for$71.7 million (5.38 billion rupees) from the state-run Energy Efficiency Services. Tata Power is involved in both traditional and renewable energy, power transmission and distribution, as well as emerging consumer-oriented companies such as rooftop solar and electric vehicle charging stations.
Prime Minister Narendra Modi’s government has placed a strong emphasis on renewable energy. It reported in August that India’s total built renewable energy capacity had surpassed 100 GW, a significant step toward the country’s goal of 450 GW by 2030, the same year it hopes to achieve 30% electric vehicle adoption. Currently, electric vehicles account for less than 1% of all automobiles in the country. The government hopes to supply clean energy to over 3.5 million farmers under the PM-KUSUM initiative by switching their irrigation pumps to solar electricity.
Diesel-powered irrigation machines are using over 5.5 billion liters of gasoline every year and generate 15.4 million tons of carbon dioxide, according to government figures. Moreover, 20 million additional pumps connected to the electrical system use 213 billion units of electricity per year, accounting for 18% of India’s total electricity usage.
According to Sinha, the PM KUSUM program recommends that approximately 4 million of the nation’s 9 million diesel-propelled pumps be converted to solar power. “The others will still run-on diesel,” he explained. “So, there’s a chance to scale those Five million [pumps] and then convert the remaining 30 million to solar.”