Praveer Sinha, MD and CEO of Tata Power, discussed the FY22 outlook, opportunities from renewables and the deleveraging plan for the company.

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The company has huge plans of growth in the renewable space. "Our plans are very ambitious and aggressive and we are committed to clean and green energy,” he said in an interview with CNBC-TV18.

Tata Power’s status on renewable plans remains the same. “We are examining all options, we are doing a whole lot of detailed analysis and we will be coming with our decision on this, and we will share the roadmap with you,” he added.

450 GW of renewable energy is a huge capacity, which will need large players and will be set up till 2030. “You need players who can provide good quality service on a sustainable basis. We will see a lot of consolidation in the renewable area as we have seen in other areas also. We expect to hear from other players, their game plans and we will accordingly moderate or modify our plans based on the opportunity,” he explained.

The company has withdrawn plans of amalgamating Tata Power Solar. Sinha added that there is a larger renewable play at Tata Power Solar.

Odisha distribution companies (DISCOMs) have been doing very well, he stated.

On electric vehicle (EV) charging, he shared, “There are three types of EV charging. First is the home charging where whatever is the investment, we get the returns from that. The other is the EVs which are put in bus depots or for fleet owners like Uber and Ola where we get returns. The challenge is in the public charging where the utilization factors are still low. In next one-two years, with more people using EV, the utilization factor will improve.” Sinha said that he expects to see improved returns in EV charging over the next few years.

For the full interview, watch the accompanying video.

(Edited by : Dipika Ghosh)

First Published:Jul 8, 2021 11:53 AM IST