THEBUSINESSBYTES BUREAU
MUMBAI, JULY 27, 2026
Tata Power has kicked off FY27 with a robust financial and
operational performance, reporting an 11 per cent year-on-year (YoY) increase
in consolidated Profit After Tax (PAT) to ₹1,401 crore for the
quarter ended June 30, 2026. The company's revenue climbed 8% YoY to ₹18,898
crore, while EBITDA rose 8% to ₹4,249 crore, underscoring sustained growth across its diversified power
business.
The quarter also marked Tata Power's highest-ever quarterly
capital expenditure of ₹5,375 crore, reflecting its aggressive
investment strategy aimed at strengthening renewable energy, transmission infrastructure, energy storage, and domestic
solar manufacturing.
The company continued to reinforce its leadership in India's
renewable energy transition by scaling up its indigenous solar manufacturing
capabilities. TP Solar recorded its highest-ever quarterly production with
1,001 MW of solar modules and 862 MW of solar cells, driving manufacturing
revenue to ₹2,462 crore. As part of its long-term
expansion strategy, Tata Power is developing a 10 GW photovoltaic ingot and
wafer manufacturing facility, to
be implemented in two phases of 5 GW each. The company has already signed a
Memorandum of Understanding (MoU) with Gopalpur SEZ for 128 acres of land,
while land development and environmental clearances are currently underway.
Maintaining its position as India's largest rooftop solar
solutions provider, Tata Power installed 371 MWp of rooftop solar capacity
during the quarter, representing an impressive 37 per cent YoY growth, while
generating ₹1,350 crore in rooftop solar revenue. The company also expanded its clean energy
offerings by launching integrated Solar plus Battery Storage solutions,
enabling customers to access reliable round-the-clock renewable power. Tata
Power Solaroof's cumulative installed capacity has now reached 5.2 GWp, serving
more than 4.8 lakh customers through a nationwide network of 3,778 authorised
channel partners and retailers.
The company's renewable energy portfolio expanded to 12 GW,
comprising 6.7 GW of operational capacity and 5.3 GW under implementation,
highlighting its strong project execution pipeline. During the quarter, Tata
Power commissioned Ladakh's first commercial rooftop solar project in Leh and
the 100.8 MW Jewali Wind Project in Maharashtra, further strengthening its
renewable generation portfolio.
In the transmission segment, Tata Power secured a Letter of
Intent from REC Power Development & Consultancy Limited (RECPDCL) for the
Ryapte intra-state transmission project in Karnataka, involving an investment
of over ₹4,000
crore. This has expanded the
company's total transmission portfolio to 7,894 circuit kilometres (ckm), with
2,332 ckm currently under construction, positioning FY27 as a strong year for
infrastructure execution.
The company's Odisha power distribution businesses continued
their impressive turnaround, reporting a 6 per cent YoY increase in PAT to ₹111
crore, supported by operational efficiencies, improved returns on equity, and
rising electricity demand. Tata Power said it remains well-positioned to expand
its distribution footprint through
public-private partnerships and parallel licensing opportunities.
A major milestone during the quarter was the full resumption
of operations at Tata Power's 4,150 MW Mundra Ultra Mega Power Plant from April
1, 2026. The plant is currently operating under Section 11 directives to help
meet India's peak power demand, with the Ministry of Power extending these
directions until September 30, 2026. The company has already signed a
Supplemental Power Purchase Agreement (SPPA) with Gujarat Urja Vikas Nigam Limited
(GUVNL), while discussions with other states are progressing.
Strengthening regional energy cooperation, Tata Power
advanced its cross-border clean energy initiatives in Bhutan. The Uttar Pradesh
Electricity Regulatory Commission (UPERC) approved Uttar Pradesh Power
Corporation Limited's (UPPCL) long-term procurement of 511 MW from the 600 MW
Khorlochhu Hydropower Project, while Tata Power and Bhutan's Druk Green Power
Corporation also signed an MoU to jointly develop the 404 MW Nyera Amari I &
II Integrated Hydropower Project.
The company further strengthened its round-the-clock
renewable energy capabilities after securing a Letter of Award from the Solar
Energy Corporation of India (SECI) to supply 324 MW of power for 40 years from
its upcoming 1,000 MW Bhivpuri Pumped Hydro Storage Project in Maharashtra.
Construction activities at the project are progressing steadily, with the upper
reservoir completed and key engineering packages already awarded.
Tata Power also continued expanding its electric mobility
ecosystem. Its EZ Charge network now includes more than 2.4 lakh home chargers,
over 5,900 public, semi-public and fleet charging points, and 1,200+ electric
bus charging stations spread across 717 cities and towns. The network serves
more than six lakh registered users and has enabled approximately 476 million
green miles of clean mobility. During the quarter, the company commissioned
ultra-fast EV charging stations along the Delhi-Mumbai Expressway, partnered
with Varanasi Smart City to expand charging infrastructure, and inaugurated
Telangana's first Tata.ev MegaCharger hub in Hyderabad.
On the sustainability front, Tata Power continued to earn
global recognition for its Environmental, Social and Governance (ESG)
performance. The company retained its MSCI 'A' ESG rating, improved its S&P
Global Corporate Sustainability Assessment score from 68 to 77, and maintained
a 'B' rating from CDP for both Climate Change and Water Security.
Commenting on the performance, Dr. Praveer Sinha, CEO and
Managing Director of Tata Power, said India's energy sector is entering a new
phase where reliable, round-the-clock clean energy has become the central
focus. He noted that Tata Power has strategically positioned itself ahead of
this transition through its integrated renewable energy portfolio encompassing
solar, wind, battery storage and pumped hydro projects. He added that the
record deployment of more than ₹5,000 crore in capital expenditure during the
first quarter, the return of Mundra to full operations, industry-leading rooftop solar growth and
expanding cross-border partnerships have created a strong foundation for the
company's next phase of sustainable growth.
With record investments, expanding renewable capacity, rapid
solar manufacturing growth, stronger transmission infrastructure, cross-border
clean energy partnerships, and an accelerating electric mobility ecosystem,
Tata Power has begun FY27 on a strong note, reinforcing its position as one of
India's leading integrated power companies and a key driver of the country's
clean energy transition.
