Tata Power Aims Rs.1 Lakh Crore Revenue, Update on Nuclear Plans
Tata Power Limited announced its goal of achieving Rs 1 lakh crore in revenue and Rs 10,000 crore in profit by 2030, fueled by growth in all its business sectors, such as generation, transmission, distribution, renewables, and manufacturing.
In FY26, Tata Power's consolidated revenue reached Rs 63,681 crore, and the net profit was Rs 5,212 crore.
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The company disclosed intentions to increase its solar equipment production capacity by introducing a new 10 GW initiative in Odisha, which will be officially announced in the upcoming months, Chandrasekaran stated at the annual general meeting.
Currently, the company possesses 4.3 GW of manufacturing capacity for solar cells and modules in Tirunelveli, Tamil Nadu, and together with the facility in Bengaluru, the total is 4.9 GW.
The chairman also mentioned that the company is growing in all its service areas, such as generation, transmission, distribution, renewable energy, rooftop solar, EV charging, and manufacturing.
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Tata Power aims to enhance its solar manufacturing for ingots and wafers through a new 10 GW initiative in Odisha, anticipating a total capacity of 30 GW, which includes 20 GW of renewable energy, fully operational by 2030.
Regarding the company's venture into atomic energy, Chandrasekaran mentioned that the firm is willing to explore nuclear power, particularly SMRs (small modular reactors). In early May, Tata Power announced that it is in talks with three states regarding its nuclear power initiatives, for which it is conducting a feasibility study and anticipates a comprehensive project report within the next six months.
The CEO & MD Praveer Sinha mentioned in a post-earnings call that the company is also collaborating with the Nuclear Power Corporation of India (NPCIL) on its nuclear project initiatives.
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Tata Power is willing to broaden its distribution presence in states that will be subject to the privatisation proposal, he mentioned, noting that the firm has launched 2.5 GW of renewable energy initiatives and has a robust pipeline of 5.1 GW.
The energy network caters to more than 13.1 million distribution customers through 7 discoms in Mumbai, Delhi, Ajmer, and throughout the state of Odisha.