Tata Power aims for ₹1 lakh crore revenue by 2030, says CEO & MD Praveer Sinha

Tata Power CEO & MD Praveer Sinha is aiming for an overall group turnover of ₹1 lakh crore, including renewables, in the next six years by 2030. “Considering the growth we are having in revenue, EBITDA and net profit for at least last 20 quarters, and business growth in different segments, we are hopeful of achieving over ₹1 lakh crore by 2030, may be even before," says Sinha in an interaction with Fortune India.

“Growth to come from renewable generation and capacity addition, solar equipment manufacturing, electricity distribution and transmission, Bhutan’s 5,000 MW new projects and pumped hydro,” explains Tata Power CEO.

Recently, Tata Power acquired a 40% equity stake in Bhutan’s Khorlochhu 600-MW hydro project (total project cost is ₹6,900 crore).

He further says that Tata Power plans to invest around ₹1.46 lakh crore to double its operational capacity to 32 gigawatt (GW) by 2030, from the current capacity of 15.6 GW, of which 6.7 GW is renewable. The vision is to expand renewable capacity to 23 GW by 2030.

In the second quarter of the current fiscal, Tata Power, one of India's largest integrated power companies, reported its 20th consecutive quarterly profit growth, posting highest-ever PAT before exceptional items of ₹1,533 crore, up 51% YoY. For the H1 FY25 period, the company clocked its highest-ever revenue, EBITDA, and PAT before exceptional items at ₹32,057 crore, ₹7,158 crore, and ₹2,721 crore, respectively. The profitability was driven by core businesses - generation, renewables, transmission & distribution.

During July-September quarter of the current fiscal, a 2 GW solar cell line at the 4.3-GW solar cell and module manufacturing plant in Tamil Nadu commenced commercial production. The company plans to ramp up the production capacity by another 2 GW. The module plant has hit a peak capacity of 20,000 modules a day in Q2FY25. The manufacturing unit reported revenues of more than ₹1,400 Crore, EBITDA of ₹130 Crore, and PAT of ₹66 Crore in Q2FY25.

In Q2FY25, the rooftop business, having a healthy order book of ₹684 crore, continues to see good traction with 111 MW capacity getting installed during the quarter. So far in this financial year, it has installed 222 MW of rooftop solar across the country in all segments.

The quarter also saw further push in e-mobility infrastructure, with the deployment of 11,500+ home chargers taking the total installed base to over 1.15 lakh. Tata Power plans to build the largest public/semi-public charging network reaching 5675 points across 590 cities, including more than 1100 e-bus charge points.

Tata Power, a part of Tata Group, has a diversified portfolio of 15,010 MW, including 6,150 MW of clean energy generation, which constitutes 41% of its total capacity. The company has also committed to achieve carbon neutrality before 2045.