Tata Power Co. is all set to boost its capacity by eight times by investing INR700 billion ($15 billion) since a faster economic growth goes on to boost the demand for electricity.
Ratan Tata, the Chairman of Tata Power, has mentioned that the utility plans for a power generation of 25,000 MW capacity by the year 2017.
Ratan also mentioned that a coal-based plant located in the state of Gujarat, India with a capacity of 4,000 MW has already crossed its halfway stage, 60% complete, to be precise while the 1,050-MW Maithon project located in the state of Jharkand is 85% complete. Industry experts feel that achieving such energy targets within a short time span consisting of just seven years might be a tough task since it will involve the locking of huge funds over a long period of time.
Tata Power’s power generation capacity as on March 31, 2010 stood at 3,104 MW capactiy. The company has plans towards expanding its hydro power and wind capacities while exploring the opportunities provided by geothermal energy as well.