Tata Power is shifting from a focus on solar and wind to becoming a leader in the hybrid renewable energy market while preparing for future participation in nuclear power development, Chairman N. Chandrasekaran announced at the company’s 106th Annual General Meeting (AGM) on Friday. The strategic pivot aligns with India’s push for a 500 GW non-fossil fuel capacity by 2030 and net-zero emissions by 2070, positioning Tata Power as a key player in sustainable energy solutions.
Chandrasekaran outlined Tata Power’s transition to hybrid renewable energy systems, integrating solar, wind, and storage to provide scalable, round-the-clock clean energy for industries and consumers. “We’re moving beyond pure-play solar and wind to become a force in the hybrid renewable energy market, enabling net-zero journeys,” he said. The company is also poised to enter the nuclear sector, particularly small modular nuclear reactors (SMNRs), pending government approval, following its exploration of a $26 billion private-sector nuclear investment opportunity.
The chairman paid tribute to the late Ratan Tata, who passed away in October 2024, crediting his vision for transforming the Tata Group, and expressed condolences for the Air India Flight 171 tragedy. He highlighted Tata Power’s robust FY25 performance, with its generation portfolio exceeding 25 GW, of which 65% (16.25 GW) is clean energy, including 5.6 GW of utility-scale solar and 1 GW of wind capacity.
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Key achievements include a strategic partnership with Bhutan’s Druk to develop 5 GW of cross-border renewable and hydropower projects, including the 600 MW Khorlochhu and 1,000 MW Bhivpuri pump storage projects. The 4.3 GW solar cell and module manufacturing plant in Tirunelveli, Tamil Nadu, fully commissioned in FY25, is set to double to 8 GW, reinforcing India’s clean energy transition. Tata Power’s transmission network maintained 99.9% availability, securing projects worth Rs 4,800 crore, with a total portfolio of 7,000 circuit kilometers.
Financially, Tata Power reported a record profit after tax of Rs 5,197 crore, up 26% year-on-year, with EBITDA reaching Rs 15,261 crore and revenue growing 5% to Rs 64,502 crore, driven by strong rooftop solar growth and improved distribution efficiency across 12.8 million customers in Delhi, Mumbai, Ajmer, and Odisha. A landmark MoU with Rajasthan for a Rs 1.2 lakh crore investment over 10 years, including nuclear and EV charging infrastructure, aims to make the state a clean energy hub.
Posts on X, such as from @aoiventures, highlight Tata Power’s Q1 FY26 commissioning of 752 MW solar projects, a 112% increase from last year, with plans to reach 7.3 GW by FY26-end. The company’s focus on hybrid systems, nuclear potential, and digital platforms like Energy as a Service (EaaS), set for mid-2025, underscores its leadership in India’s renewable energy landscape.
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