Tata Power Appoints Sanjay Banga as CEO and MD
Tata Power appointed Sanjay Banga as its CEO designate and additional director, effective November 11, 2026. Banga is set to become the company's chief executive officer and managing director starting May 1, 2027, for a five-year period concluding on April 30, 2032, pending approval from shareholders.
The company's board of directors approved the appointment during a meeting, after the Nomination and Remuneration Committee's recommendation.
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Banga is presently the CEO and managing director of Tata Power Renewable Energy Ltd and also serves as president – renewables at the parent organization. He will take over from Praveer Sinha, who is presently in charge of Tata Power.
Banga has over 30 years of expertise in the energy industry, covering generation, transmission, distribution, and renewable resources. Prior to leading Tata Power Renewable Energy, he was president of the organization’s transmission and distribution sectors, managing distribution functions in Odisha, Mumbai, Delhi, and Ajmer, along with its transmission infrastructure.
He additionally held the position of CEO at Tata Power Delhi Distribution Ltd (TPDDL), a partnership between Tata Power and the Delhi government.
Banga started his career as a trainee engineer at NTPC in 1989, focusing on the operation and commissioning of thermal power projects until 1995. He then collaborated with Reliance Energy, previously known as BSES, from 1996 to 2003.
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Banga, a graduate of the National Institute of Technology, Kurukshetra, possesses an MBA from the Faculty of Management Studies, University of Delhi. He has also finished the Senior Executive Leadership Program at Harvard Business School.
Commenting on the quarterly performance, Sinha says, "We delivered our highest-ever quarterly profit, with strong contributions from all businesses, underscoring the strength of Tata Power's integrated energy platform and consistent execution across our portfolio."
The leadership change occurs as Tata Power increases its investments in renewable energy, transmission infrastructure, energy storage, and distribution.
The firm announced a record consolidated quarterly profit after tax of Rs.1,652 crore for the September quarter of FY27, marking a 33 percent increase compared to the previous year. Revenue grew by 26 percent to Rs.19,886 crore, and EBITDA climbed five percent to Rs.4,245 crore.
In the first half of FY27, Tata Power invested about Rs 10,000 crore in capital outlay, with roughly Rs.6,000 crore allocated to its renewable energy sector. Its installed clean and green generation capacity hit 8.6 GW after the incorporation of 765 MW in the first half.
The firm also emphasized increasing input from regulated and long-term contracted sectors, which it stated were offering better predictability and clarity of cash flows.
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Tata Power announced that Sanjay Banga, in addition to Chief Financial Officer Sanjeev Churiwala and Company Secretary Vispi S. Patel, would be empowered to assess the materiality of events and issue stock exchange disclosures per Regulation 30(5), starting May 1, 2027.