Despite the passing of Ratan Tata, a titan of Indian business and philanthropist icon, shares of Tata Group companies as Tata Power, which is primarily focused on renewable energy, is performing exceptionally well and is on its way to becoming a major player in the sector. Ratan Tata, Chairman Emeritus of Tata Sons, was instrumental in shaping the group into a global conglomerate.
As part of its ambitious aim to grow out wind-solar hybrid projects across the country, renewable energy giant Tata Power is seeking bids for wind turbines with a capacity of over 3 Gigawatts (GW), reported The Economic Times citing sources.
Over the next three to five years, this plan is anticipated to take shape and may involve contracts valued at over Rs 21,000 crore. Additionally, the procurement campaign is positioned as one of the biggest purchases for wind turbines in the sector.
The amount of money required to establish one megawatt (MW) of wind energy is currently approximately Rs 7 crore, demonstrating the size of the anticipated investments. The Economic Times was also informed by sources that Siemens Gamesa, Senvion India, Envision Energy, and Suzlon Energy are the four main OEMs competing for the deal.
