Tata Power Plans Rs.30,000 Crore Rooftop Solar Revenue by 2029
Tata Power Company Ltd announced its aim to increase revenue from its rooftop solar segment to Rs.30,000 crore by 2029, achieving over a six-fold rise, and plans to nearly double its market share to around 25 percent.
“We have been growing at a very high pace. Year before last we were Rs.2,300 crore, last year we did Rs.4,800 crore. I think we will cross Rs.30,000 crore in 2029 itself and not in 2030,” according to Tata Power Managing Director and CEO Praveer Sinha.
The revenue goal propels the company’s previous ambition to reach the Rs.30,000-crore target by 2030 while catering to 30 lakh households, showcasing management’s increasing confidence in the speed of rooftop solar adoption as government initiatives, decreasing battery prices, and heightened consumer awareness boost demand.
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The company is aiming for a notable increase in its leading role in the rooftop solar market.
According to the company, the monthly rooftop installations have increased sharply over the past two years. “Two years back I used to do 1,000 units a month, now I do 30,000 units a month. There is a huge change that has happened. This will be a game changer not only for us but for the country in terms of how power will be produced,” he says.
The executive credited the company’s assurance to the comprehensive ecosystem it has developed over time, encompassing manufacturing, distribution, installation, and post-sales service.
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Sinha stated that the rooftop solar potential is still mostly unexplored, holding significant growth opportunities across various income groups. The company is progressively integrating battery storage with rooftop solar systems, which it thinks will enhance adoption rates.
The positivity comes after another robust quarter for Tata Power’s rooftop solar sector. During the April-June quarter of FY27, the company added 371 MWp of rooftop solar capacity, an increase of 37 percent compared to the previous year, contributing positively to its renewable business performance. Its solar manufacturing division generated a record 1,001 MW of modules in the quarter with a manufacturing yield of 96.3 percent, although renewable generation was somewhat affected by curtailment in Rajasthan and Gujarat.
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Tata Power has maintained its status as India’s leading rooftop solar provider for 11 straight years. It concluded the June quarter with total rooftop solar installations of 5.2 GWp, catering to over 4.8 lakh customers through a nationwide network of 3,778 approved channel partners and retailers.
In FY26, the firm added approximately 2 GW of rooftop solar capacity, bringing total installations to over 4.8 GWp.
It set up over 220,000 rooftop systems throughout the year. Furthermore, the company expanded its presence in Tier-II and Tier-III cities through a network of over 690 residential channel partners and upwards of 3,000 retailers. The firm has introduced MySine battery storage systems, created in collaboration with TACO, to enhance rooftop solar setups.
Management also stated that the investment momentum will continue to be robust. Capital expenditure for the September quarter is anticipated to surpass Rs.6,000 crore and may approach Rs.6,500 crore if project implementation stays on track. Almost half of the anticipated capital expenditure for the second quarter will be allocated to renewable energy initiatives as Tata Power aims to commission 800-900 MW of capacity during the quarter, while maintaining investments in pumped hydro storage and transmission systems.