Tata Power Company: Transforming Energy Landscape
Tata Power leads India’s energy sector with strengths in generation, renewables, transmission, distribution, and innovative solutions
Tata Power, a pioneering name in India’s energy sector, was founded in 1911 by the visionary industrialist Jamshedji Tata, who aimed to supply affordable, clean electricity. The company's first hydroelectric project at Khopoli in Maharashtra began in 1915, marking a milestone in India's industrial energy supply. Over the years, Tata Power expanded its portfolio to include thermal, hydro, solar, and wind power generation, growing into India’s largest integrated power company. It has continuously championed sustainable energy initiatives, such as setting up India's first solar and wind farms, while diversifying globally to serve more than 12 million customers today.
In FY24, Tata Power Company reached new financial heights, reporting its highest-ever profit after tax (PAT) of Rs 4,280 crore and revenue of Rs 61,542 crore. The consolidated EBITDA surged 26 per cent to a record Rs 12,701 crore, underlining the company’s financial resilience. "These achievements reflect our strategic focus on enhancing operational efficiency, expanding our renewables portfolio, and strengthening our market position across various segments of the energy sector," CEO and MD Praveer Sinha shared with shareholders.
The company has made notable progress in its transition to sustainable energy, setting a strong path forward for clean energy expansion. Tata Power aims to grow its green energy portfolio to 15 GW over the next five years, focusing on solar, wind, and Pumped Hydro Storage Projects (PSPs). "We are setting up a 966 MW solar-wind hybrid plant to deliver round-the-clock renewable power to Tata Steel,” Sinha said, adding that Tata Power has also entered an agreement with SJVN for a 1.3 GW Firm and Dispatchable Renewable Energy (FDRE) project.
Looking Ahead
In partnership with the Maharashtra government, Tata Power will develop two large PSPs with a combined 2,800 MW capacity, generating employment for over 6,000 people. Moreover, its EPC division has commissioned India’s largest solar (100 MW) and battery storage (120 MWh) project in Chhattisgarh, further underscoring Tata Power's leadership in renewable innovation.
The company stated that its strategic focus on expanding the renewables portfolio, enhancing energy efficiency, and adopting innovative technologies will enable it to lead the energy transition.
