Tata Power to install over 1400 EV chargers in the second quarter.
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Tata Power to install over 1400 EV chargers in the second quarter.

Tata Power has installed over 18,500 Home chargers and over 240 Bus charging points across India.

One of India’s largest integrated power companies, Tata Power, announced its results for Q1 FY23. Tata Power registered a 90% YoY increase in consolidated quarterly PAT as compared to Q1FY22, registering its 11th consecutive year-on-year quarterly growth in PAT.

In Q1 FY23, Tata Power reported revenue of ₹14,776 crores and PAT of ₹884 crores.

Along with the results, the company announced the key highlights of its EV Charging business. Tata Power has set up a network of over 2350 public and semi-public EV chargers so far. The company has also installed 18,500+ Home chargers and 240+ Bus charging points across India. In the second quarter, the company will install another 1400+ chargers.

To power the green mobility ecosystem, Tata Power has partnered with EV companies like Tata Motors, Jaguar Land Rover, MG Motor India, and TVS Motors to set up EV charging infrastructure.

Recently, it entered into a strategic partnership with Hyundai Motor India Ltd. to install fast chargers (DC 60 kW) at 34 EV dealer locations in 29 cities.

Tata Power has taken the green energy ecosystem one step ahead by installing 150 green energy-powered EV charging stations across Mumbai, covering residential societies, malls, commercial complexes, and petrol pumps.

Tata Power has partnered with real estate companies across major Indian cities to install EV chargers at their projects. One such partnership is with Kolte-Patil Developers, a leading real estate player, to set up EV charging stations across its projects in Pune, Mumbai, and Bengaluru.

Commenting on the company’s performance, Dr. Praveer Sinha, CEO & MD at Tata Power said, “We have started the new fiscal year on a solid note with all of our business clusters - Generation, Transmission, Distribution, including Odisha, and Renewables - performing very well. This is aptly reflected in our 11th consecutive quarter of PAT growth. We have a robust growth trajectory with stable long-term cost structures and competitiveness across businesses. We are offering a wide range of energy services across the entire value chain along with cutting-edge technologies and superior project execution capabilities. As a future-ready EaaS company, we are well poised to contribute towards India’s green energy transition.”

Also Read: Volvo XC40 Recharge launched in India at Rs 55.90 lakh.

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