Company Achieves Record Profit, Crosses Key Milestones in Solar and EV Charging
Tata Power has announced a robust start to FY25, marking its 19th consecutive quarter of profit growth. The company attributed this success to operational efficiency, strong execution, and sustained business momentum across all its operations.
Key Highlights from the announcement:
- Record-breaking performance: Tata Power achieved its highest-ever quarterly profit, driven by strong performance in generation, transmission, distribution, and renewables.
- Green energy leadership: The company installed its 1 lakhth rooftop solar system, reinforcing its position as a leading green energy provider. It aims to further accelerate solar adoption through its ‘Ghar Ghar Solar Tata Power Ke Sang’ campaign, leveraging its newly established 4.3 GW solar module and cell plant in Tamil Nadu.
- EV charging pioneer: Tata Power became the first EV charging solutions provider to cross the 1 lakh home charger installations milestone. It also boasts a vast network of over 5600 public and captive chargers across India.
- Strategic investments: The company has earmarked Rs 20,000 crore for capital expenditure in FY25 to drive growth in clean energy technologies, including pumped hydro, hydropower, and potentially small modular nuclear reactors.
- Renewables and hydropower expansion: Tata Power has entered into several partnerships to expand its renewable energy portfolio, including an MoU with NHPC for rooftop solar projects on government buildings and a PPA with SJVN for a 460 MW renewable energy project. The company has also commissioned a 200 MW solar project in Rajasthan and is collaborating with various state governments to promote rooftop solar adoption.
- International foray: Tata Power has finalized an agreement to develop the 600 MW Khorlochhu Hydro Project in Bhutan, marking its entry into the hydropower sector in the region.
Dr. Praveer Sinha, CEO & MD, Tata Power, expressed his satisfaction with the company’s performance and its commitment to driving the green energy transition in India.
With a strong financial foundation and a clear focus on sustainable growth, Tata Power is well-positioned to lead the charge in India’s renewable energy landscape.