India’s Tata Power is looking for bids for the supply of wind turbines with a capacity exceeding 3 gigawatts (GW). These turbines will be used at its wind-solar hybrid renewable energy facilities across India over the next three to five years, according to several sources.
The total investment could surpass Rs. 21,000 crore, making it one of the largest wind turbine contracts to date. Presently, the cost of establishing 1 MW of wind energy is ~Rs. 7 crore.
According to sources, four major manufacturers of wind turbines—Siemens Gamesa, Senvion India, Envision Energy, and Suzlon Energy—are competing to provide the turbines for Tata Power.
The bidding process will be divided into several contracts, with estimates suggesting that the total requirement could reach around 5 GW over the next five years, resulting in a contract value of Rs. 35,000 crore.
Tata Power plans to invest up to $9 billion to increase its renewable energy capacity to over 20 GW within the next five to six years. According to CEO Praveer Sinha, the company anticipates adding 15 GW of renewable capacity by 2030.
The company plans to allocate between Rs. 700 billion ($8.36 billion) and Rs. 750 billion ($8.95 billion) for capacity expansion, aiming to finance this initiative through a combination of internal funds and debt.
Tata Power Green Plans:
Tata Power aims to install over 1 GW of wind capacity each year and is seeking bids for a long-term supply of wind turbines, with no specific deadline for submissions, according to sources.
In FY25, the company plans to invest Rs. 20,000 crore in capital expenditures, allocating half of that amount to renewable energy and the remainder for distribution, transmission, and coal-based plants.
Presently, Tata Power has a renewable energy capacity of 10.5 GW, with 5.7 GW of projects at different stages of implementation, and has set a goal of achieving 100 percent clean power generation by FY45.
Its operational capacity stands at 4.8 GW, which includes 3.8 GW from solar and 1 GW from wind energy projects. The company aims to reach 20 GW of capacity by 2030.
About Tata Power Company Limited:
With a market cap of Rs. 1.49 lakh crores, the shares of one of India’s largest integrated power companies with an international presence surged by 3 percent on BSE to Rs. 470.3, during the trading session of Wednesday.
The company reported a significant growth in revenue from operations, with around a 13.7 percent YoY rise from Rs. 15,213 crores in Q1 FY24 to Rs. 17,294 crores in Q1 FY25. Similarly, the net profit increased by about 4.2 percent YoY from Rs. 1,141 crores to Rs. 1,189 crores, over the same period.
The stock has delivered positive returns of nearly 86.8 percent in the last one year, as well as around 41.5 percent returns year-to-date.
Tata Power Company Limited is primarily engaged in the business of generation, transmission, distribution and trading of electricity.
The company aims to produce electricity completely through renewable sources. It also manufactures solar roofs and plans to build 1 lakh EV charging stations by 2025.
Inox Wind Energy Limited
With a market cap of Rs. 14,607.8 crores, the stock surged by 3.6 percent on BSE to Rs. 12,441.9 during the trading session of Wednesday.
The company reported a significant growth in revenue from operations, with around an 82.8 percent YoY rise from Rs. 350 crores in Q1 FY24 to Rs. 640 crores in Q1 FY25. Similarly, the net profit increased from a loss of Rs. 66 crores to Rs. 42 crores, over the same period.
The stock has delivered multibagger returns of nearly 382.2 percent in the last one year, as well as around 117.8 percent returns year-to-date.
Incorporated in 2020, Inox Wind Energy Limited is engaged in the business of manufacturing, sale and development of Wind Turbine Generators (WTGs) and the generation and sale of wind energy.
The company also provides Operations and Maintenance (O&M) services, wind farm development services and Common Infrastructure Facilities for WTGs.
Suzlon Energy Limited
With a market cap of Rs. 1.07 lakh crores, the shares of India’s largest renewable energy solutions provider surged by 9.4 percent on BSE to Rs. 80.59 during the trading session of Wednesday.
The company reported a significant growth in revenue from operations, with around a 50 percent YoY rise from Rs. 1,351 crores in Q1 FY24 to Rs. 2,022 crores in Q1 FY25. Similarly, the net profit increased by about 199 percent YoY from Rs. 101 crores to Rs. 302 crores, over the same period.
The stock has delivered multibagger returns of nearly 183.5 percent in the last one year, as well as around 104 percent returns year-to-date.
Suzlon Energy Limited is primarily engaged in the business of manufacturing, project execution and operation and maintenance service (OMS) of Wind Turbine Generators (WTGs) and the sale of related components of various capacities.
Written by Shivani Singh
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