Reliance Industries chairman Mukesh Ambani on Tuesday praised Tata Group's N Chandrasekaran and called him a true inspiration to the business community and the youth of India. Ambani was speaking at the convocation of Gujarat's Pandit Deendayal Energy University and Chandrasekar was the chief guest for the event.
"We are privileged to have N Chandrasekaran, the chairperson of the Tata Group, as the chief guest for today’s event," Ambani said as he began his speech. "He (Chandrasekaran) is a true inspiration to the business community and the youth of India," the RIL chief said.
Ambani said through his vision, conviction, and rich hands-on experience, Chandrasekaran has scripted Tata Group’s spectacular growth in recent years. "He has also led its forays into the businesses of the future," he said.
"I am particularly inspired by the gigantic steps the group has taken in the field of renewable energy under his leadership. The steps reflect his faith in the ability of New Energy technologies to lead us to a better and brighter future," Ambani said.
The RIL chairperson further said that if India has to become a renewable energy powerhouse, it is possible through the combined will and initiatives of many leading business groups working with the ethos of a national coalition.
Chandrasekaran was appointed as the chairman of the group in 2017. Before taking over as the chief, he spent three decades at TCS, which he joined from the university. Under his watch, the Tata group has invested heavily in the renewable energy sector.
In July this year, Chandrasekaran said the group's power generation company Tata Power has planned to invest over Rs 75,000 crore in renewables in the next five years. The group aims to have an electricity generation capacity of 30 GW during the same period with more than half coming from clean energy sources.
At present, Tata Power has a generation capacity of 13.5 GW with 34 per cent contributed by renewable energy sources.
During the company's annual general meeting, Chandrasekaran said Tata Power is looking to scale its generation capacity to over 30 GW by FY'27 from the current 13.5 GW with an increased clean energy portfolio from current levels of 34 per cent to 60 per cent by 2027 and 80 per cent by 2030. He also said the company has planned a Rs 14,000 crore consolidated capex in FY'23 with Rs 10,000 crore in renewables.
Tata Power added a renewable energy capacity of 707 MW in FY22.
(With inputs from PTI)
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