Tata Sons Chairman Natarajan Chandrasekaran on Saturday said the conglomerate will move to 70% green energy by 2030.
The chairman of the Tata group emphasized the critical importance of the energy transition. According to Chandrasekaran, in addition to green energy, it is necessary to accelerate transitions in the direction of development of digital technologies, artificial intelligence, machine learning and supply chains. He highlighted India's unique position and geopolitical advantages in responding to these challenges.
Tata Group itself emphasizes that the company has the opportunity to play an important role in the development of green energy.
Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals.
The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust’.
Tata Sons is the principal investment holding company and promoter of Tata Companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.
In 2022-23, the revenue of Tata companies, taken together, was $150 billion (INR 12 trillion). These companies collectively employ over 1 million people.
Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly listed Tata enterprises with a combined market capitalisation of $300 billion (INR 24 trillion) as of July 31, 2023.
Tata power, is a member company of Tata group, which is one of the largest energy companies in India and the biggest investor in the Georgian energy sector along with the Norwegian "Clean Energy". The company owns Shuakhevi HPP Cascade with a capacity of 187 MW.
In total, Tata Power and Clean Energy have invested USD 550 million for the development of Shuakhevi HPP.
The HPP was put into operation in 2020, and for the fourth year it has been continuously supplying electricity to the Georgian electricity system and Georgian population.
The output of Shuakhevi HPP cascade is increasing y-o-y. In 2023, the cascade of Shuakhevi HPP produced a total of 513 kWh of electricity, which exceeded the installed capacity by about 10%. Compared to 2022, the electricity generation has increased by 16%.
