Tata Power Targets ₹1 Lakh Crore Revenue by 2030, Eyes Entry into Nuclear Power

Tata Power Ltd has unveiled an ambitious long-term growth roadmap, targeting ₹1 lakh crore in annual revenue and ₹10,000 crore net profit by 2030 as it accelerates investments across renewable energy, power distribution, transmission, EV charging infrastructure, solar manufacturing, and emerging nuclear power opportunities.

Speaking at the company's Annual General Meeting (AGM), Chairman N. Chandrasekaran said Tata Power is transforming into a comprehensive clean energy company by expanding across every major segment of the power value chain. The company also announced plans to add a new 10 GW solar manufacturing facility in Odisha, while confirming it is actively evaluating opportunities in Small Modular Reactors (SMRs) as India opens up the nuclear power sector.

The announcements come as Tata Power continues to strengthen its renewable energy portfolio, serving more than 13.1 million power distribution customers across multiple states while positioning itself as one of India's largest integrated clean energy companies.

Tata Power Financial Performance

Tata Power has delivered steady financial growth over the past few years, supported by increasing renewable energy capacity, higher power demand, and expansion across distribution and transmission businesses. The company reported another strong financial year in FY26, with revenue crossing ₹62,000 crore and profit exceeding ₹5,100 crore.

FY26 Financial Highlights

Key Financial Metrics

Despite higher investments across renewable energy and infrastructure, Tata Power continues to maintain healthy profitability while focusing on long-term capacity expansion.

Tata Power Targets ₹1 Lakh Crore Revenue by 2030

Tata Power has set one of its most ambitious financial goals to date, aiming to achieve ₹1 lakh crore in annual revenue and ₹10,000 crore net profit by the end of the decade.

According to Chairman N. Chandrasekaran, the company plans to achieve this target through rapid expansion across power generation, renewable energy, transmission, distribution, rooftop solar, EV charging infrastructure, and energy services.

The management believes India's accelerating clean energy transition, rising electricity demand, and increasing electrification will provide significant long-term growth opportunities.

10 GW Solar Manufacturing Expansion Planned in Odisha

A major highlight of Tata Power's future strategy is the proposed 10 GW solar manufacturing project in Odisha, which is expected to be formally announced in the coming months.

The company currently operates 4.3 GW of solar cell and module manufacturing capacity at Tirunelveli, Tamil Nadu, while its Bengaluru facility takes the combined manufacturing capacity to approximately 4.9 GW.

With the upcoming Odisha project, Tata Power aims to significantly strengthen its domestic solar manufacturing ecosystem while reducing dependence on imports.

Management also expects the company to have nearly 30 GW of total power generation capacity by 2030, including 20 GW of renewable energy capacity.

Solar Expansion Roadmap

Tata Power Open to Enter Nuclear Power Segment

Tata Power also confirmed that it is exploring opportunities in India's nuclear power sector, particularly Small Modular Reactors (SMRs).

The company is currently conducting feasibility studies for proposed nuclear projects in collaboration with multiple state governments. Management has indicated that detailed project reports (DPRs) are expected within the next six months.

Tata Power is also working with the Nuclear Power Corporation of India Limited (NPCIL) as part of its long-term nuclear energy strategy.

Small Modular Reactors are increasingly viewed as the future of clean baseload power due to their lower construction costs, enhanced safety features, and scalability compared to conventional nuclear reactors.

Renewable Energy Pipeline Continues to Expand

Tata Power has already commissioned 2.5 GW of renewable energy projects and currently maintains a 5.1 GW project pipeline under various stages of execution.

The company continues expanding across utility-scale renewable energy, rooftop solar installations, EV charging infrastructure, transmission networks, and power distribution businesses.

Its integrated clean energy strategy remains one of the key pillars supporting long-term earnings growth.

Distribution Business Remains a Key Growth Driver

The company currently serves more than 13.1 million electricity consumers across seven distribution companies (DISCOMs), including Mumbai, Delhi, Ajmer, and the entire state of Odisha.

Management also stated that Tata Power remains interested in participating in future power distribution privatization opportunities announced by various state governments.

Expansion of regulated distribution assets is expected to provide stable long-term cash flows alongside renewable energy growth.

Market Analysis

India's power sector is undergoing one of its biggest transformations, driven by renewable energy investments, rising electricity demand, electrification of transportation, and government support for domestic manufacturing. Tata Power is strategically positioned to benefit from each of these structural growth themes through its diversified presence across generation, transmission, distribution, solar manufacturing, EV infrastructure, and emerging nuclear power opportunities.

The planned 10 GW solar manufacturing expansion and potential entry into Small Modular Reactors further strengthen the company's long-term growth outlook. However, investors should continue monitoring project execution, capital expenditure, debt levels, regulatory developments, and renewable energy capacity additions over the coming years.

What Should Investors Watch?

Investors should closely monitor the formal announcement of the Odisha solar project, progress on nuclear feasibility studies, renewable energy capacity additions, distribution privatization opportunities, execution of the 5.1 GW renewable pipeline, and the company's ability to achieve its FY2030 revenue and profit targets.

Key Takeaways

What revenue target has Tata Power set for 2030?

Tata Power aims to achieve ₹1 lakh crore in annual revenue and ₹10,000 crore in net profit by 2030.

What is Tata Power's new solar expansion plan?

The company plans to establish a 10 GW solar manufacturing facility in Odisha, significantly increasing its domestic manufacturing capacity.

Is Tata Power entering the nuclear power sector?

Yes. Tata Power is evaluating opportunities in Small Modular Reactors (SMRs) and is currently conducting feasibility studies while working with NPCIL.

How many electricity consumers does Tata Power serve?

Tata Power currently serves more than 13.1 million distribution customers across seven DISCOMs in India.