Tata Power transitioning to become 'force' in hybrid RE market: Chairman N Chandrasekaran

Tata Power is transitioning from a pure-play solar and wind company to become a force in the hybrid renewable energy market and is also ready to take part in nuclear power development in future, Chairman N Chandrasekaran said on Friday.

He was addressing shareholders at the company's 106th Annual General Meeting (AGM).

Sharing the future plans of the company, Chandrasekaran said, ''The company is transitioning from being a pure-play solar and wind company to being a force in the hybrid renewable energy market.'' By offering customisable, scalable and end-to-end clean and green energy solutions, Tata Power is enabling net-zero journeys and providing round-the-clock sustainable power for industries and consumers wherever they are, he said.

The company is also primed for the anticipated opening up of the nuclear sector for private participation, the chairman said.

In his speech, the chairman also remembered Tata Group's chairman emeritus and veteran industrialist Ratan Tata, who passed away last year in October, and expressed grief over the loss of lives in the Air India plane mishap last month.

''I would like to acknowledge the heavy loss we have faced in the recent months. Across the entire Tata Group, we honour those who lost their lives, along with all the families and loved ones affected by the Air India Flight 171 tragedy. Late last year, we also bid farewell to (Ratan) Tata,'' he said.

His unwavering commitment has been pivotal to transforming the Tata Group. ''He was a friend and someone whose guidance I sought and whose humanity I admired and whose focus on the importance of details I will always remember and carry with me. We all miss him very dearly,'' the chairman said.

Speaking further to the shareholders, Chandrasekaran said the company's generation portfolio, including pipeline capacity, has crossed 25 GW mark in FY25. 65 per cent of this capacity is clean and green energy.

In the past year, the company entered into a strategic partnership with Bhutan's Druk to develop 5 GW of cross-border renewable energy and hydropower projects. The work has commenced on two important hydro projects -- the 600 MW Khorlochhu project in Bhutan and the 1000 MW Bhivpuri pump storage project in Maharashtra.

The 4.3 GW solar cell and module manufacturing plant in Tirunelveli, Tamil Nadu, has been fully commissioned and stabilized during the year.

In FY25, the company has maintained 99.9 per cent transmission availability. Tata Power has also won transmission projects worth more than Rs 4,800 crore in the past year. This brings its total portfolio to over 7,000 ckm including a pipeline capacity of more than 2,400 ckm.

The company serves 12.8 million distribution customers across 7 discoms in Delhi, Mumbai, Ajmer and the entire state of Odisha.

In terms of financial performance, the company has crossed the profit after tax of Rs 5,000 crore for the first time. At Rs 5,197 crore, this marks a 26 per cent year-on-year growth.

The company's underlying earnings before interest, tax, depreciation and amortization (EBITDA) for the year FY25 has for the first time exceeded Rs 15,000 crore and reached Rs 15,261 crore. Revenue has grown 5 per cent year-on-year to Rs 64,502 crore.

This is due to a strong performance in our rooftop business, improved billing efficiency and collection in our distribution business.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)