Introduction

On a mission to push boundaries, create standards, and continuously innovate in order to find solutions to meet both the present and future's energy needs. In order to achieve this,offering of environmentally friendly products and actively supporting the global decarbonization movement is one of the key players in green energy in India for the past three decades, providing clients with a wide range of product options and facilitating their transition to environmentally friendly and responsible power consumption. Tata power is one of the biggest and most rapidly expanding electric charging infrastructure in India.

Message from the CEO & MD

“At Tata Power, we believe that access to energy is an enabler for creating a much larger socio-economic impact in the country"

Strategies

At Tata Power, strategies are developed, assessed, and revised using an integrated methodology that takes both top-down and bottom-up business inputs into account. The strategically plan to match with themselves and with newer market realities, megatrends, and stakeholder requests while keeping a keen focus on yearly assessments.They carefully plan the method, which includes a feedback loop, facilitates the smooth implementation and course correction of their strategic roadmap and strengthens sustainable results.

Strategy 1: Scaling up the renewable energy, transmission and distribution, services, and energy

solutions industries profitably

Strategy 2: Putting an emphasis on sustainability with the goal of being carbon and water neutral

Strategy 3: Keeping the level of financial leverage at the desired level

Strategy 4: Using digital platforms to support customer-focused enterprises

Strategy 5: Developing future energy services and solutions

Strategy 6 :Fostering an agile, motivated, and future-ready workforce

Strategy 7: Lowering coal costs as part of Mundra's comeback

Strategy 8 :Set higher standards for existing enterprises; operational efficiency and financial returns.

UN SDG Alignment and ESG Priorities

● ESG considerations in business six important Environmental, Social, and Governance (ESG) priorities have been included into our operations and into the strategy for the future.

● Towards carbon neutrality by 2045 Action plan

● Clean capacity 80% by 2030; no new coal-based capacity; phasing out before 2045 with the fulfilment of contractual commitments (PPA)

● Increasing solar and hybrid capacity to reach 4.7 GW and over 30 GW for customer- focused enterprises.

● Encourage the widespread use of microgrids, home automation, rooftop solar, and solar pumps. Lead the development of EV charging infrastructure. VASs (value-added services) at the point of distribution.

● Utility benchmark for managing water Before 2030, there will be zero waste going to landfills. comparing the management of trash and fly ash.

Business Responsibility &

Sustainability Report

One of India's major integrated power businesses,active throughout the whole value chain of electricity production, including hydro and thermal energy production, transmission, distribution, and trading. In order to advance the development of sustainable and clean energy, Tata Power has developed new business models for EV charging, solar rooftop and pumping, microgrids, storage solutions, ESCO, home automation, and smart meters. These models are influencing the transformation of the power sector.

The Sustainable Development Goals of the United Nations are connected with Tata Power's belief in conducting business in a responsible and sustainable manner (SDGs). The Materiality assessment led to the prioritization of 9 SDGs, 4 business SDGs, and 5 CSR SDGs for targeted action.

TATA's Committment in BRSR

● Tata Power has policies and guidelines in place for vendor enlistment and ordering to encourage and provide growth opportunities to entrepreneurs among the marginalized vulnerable groups or communities.

● Tata Power Affirmative Action’s Policy emphasis on empowering and encouraging socio-economically deprived communities for entrepreneurship and quality-based inclusion in supply chain.

● Tata Power is committed to help people from SC/ST background either by promoting them to become entrepreneurs or by engaging workforce from SC/ST community under contracts.

Tata Power on merit basis considers incentives in payment for contractors engaging more than 30% of total deployment from the SC/ST community. In order to motivate entrepreneurs from this community, Tata Power considers preferential treatment in commercial parameters if the company is owned by a person from SC/ST community having minimum 50% holding in the company. This motivates the community to be a part of business ecosystem.

Areas Of Success

Alternative Energy Sources

In order to maintain long-term commercial viability and to facilitate the transition to a more environmentally friendly, customer-focused power provider, new era energy solutions cluster is crucial. By implementing rooftop solar, electric vehicle, and home automation verticals make up the cluster.

Solar Panel Roof

Rooftop solar market share, order book, and revenue have all steadily increased with also various market opportunities to increase the size of the portfolio. The value proposition of solar energy, increasing government push and regulatory support, increased corporate pull in the wake of climate change, and availability to money will all work in favor. With the concentrate on leveraging the brand, utilizing channels, utilizing white spaces, profitability, productivity, and contributing in the near future.

EV Charging

In India, the EV ecosystem is rapidly expanding, to play a significant part in fostering this development. The government's push for electric vehicles, buses, and OEMs, as well as a robust partner ecosystem and a digitally enabled customer experience, are driving the market potential that we intend to capitalize on.

Automating Home

Already has created a bench mark in home automation market by offering a full line of solutions that are focused the value. Ability to play across multiple channels, including retail, direct, e-commerce, new products, and through our Discoms, ha enabled them. The size of the house market has a lot of room to expand. By concentrate on giving excellent demos, raising awareness of the brand & increasing consumer demand for it, and providing top-notch customer support is an added advantage.

TATA Power is paving a path for shifting India's energy needs to renewable. After all, renewable energy is going to lightup tomorrow's world.

If you want to switch to renewable power and help the world avoid greenhouse gas emissions & mitigate climate change. Please feel free to contact us - editor@sustainify

Authored by Swetha. She is currently pursuing MSc Biotechnology at the prestigious Mount Carmel College, Bangalore. She brings an unique perspective in sustainability and climate change mitigation. She's an explorer and expert in Western Ghats, a biodiversity hotspot