TATA Power’s AGM meeting is underway in Mumbai in which a major decision to end building any new coal plant would be taken. The announcement will likely happen on Tuesday (June 18 ) at their 100th AGM in Mumbai.
TATA Power, one of India’s biggest integrated power companies, is likely to announce an end to building new coal plants today (June 18) in the wake of rapid fall in the cost of power generated by solar and wind, and the rising cost of coal. These two factors have convinced the TATA Power that non-fossil fuel sources would be the key to their future growth.
In 2018, TATA Power started putting out indicators that it plans to move away from coal and towards renewable energy. At their 99th AGM, they put out a target to reach 40-50 percent of its capacity from non-fossil sources by 2025. Read More