Tata Power Aims for ₹1 Lakh Crore Revenue and ₹10,000 Crore Profit by 2030

Tata Power's Ambitious Growth Plans

Tata Power Limited has set an ambitious goal to achieve ₹1 lakh crore in revenue and ₹10,000 crore in profit by the year 2030, as announced by the company on Tuesday. This growth will be fueled by advancements in various sectors including generation, transmission, distribution, renewable energy, and manufacturing.

During the annual general meeting, Tata Power's Chairman, Natarajan Chandrasekaran, stated, "Our aim is to reach a profit of ₹10,000 crore and a revenue of ₹1 lakh crore by 2030. Tata Power is at the forefront of transitioning to an energy-as-a-service model, facilitating the shift to clean energy solutions for residential and commercial customers."

Additionally, Tata Power plans to enhance its solar equipment manufacturing capabilities with a new 10 GW project in Odisha, which will be officially announced in the upcoming months. Currently, the company operates a manufacturing capacity of 4.3 GW for solar cells and modules in Tirunelveli, Tamil Nadu, and with the Bengaluru facility, the total capacity stands at 4.9 GW.

Chandrasekaran emphasized that Tata Power is broadening its scope across all business segments, including generation, transmission, distribution, renewable energy, rooftop solar, electric vehicle charging, and manufacturing. The company is also looking to expand its solar manufacturing operations, particularly in ingots and wafers, with the goal of achieving a total capacity of 30 GW by 2030, which includes 20 GW of renewable energy.

Furthermore, Tata Power is considering expanding its distribution network in states that are set to privatize power distribution, as noted by Chandrasekaran. He also mentioned that the company has successfully commissioned 2.5 GW of renewable energy projects and has a robust pipeline of 5.1 GW in development.