Tata Power has started construction of an 800 MW renewable energy project combining solar and wind capacity in Andhra Pradesh
It has also reported double-digit growth in Q1 FY27, supported by renewables, solar manufacturing and rooftop solar businesses
Tata Power plans to prioritize direct state utility tenders over central agency auctions as it expands its renewable energy pipeline
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has broken ground on an 800 MW renewable energy project in Andhra Pradesh. The project is expected to generate around 2,500 million units of electricity annually, according to the company.
The project will combine 400 MW capacity each of solar and wind, representing an investment of about INR 5,750 crore.
Commenting on the development, Tata Power CEO and Managing Director Praveer Sinha said, “By integrating 400 MW of solar and 400 MW of wind capacity, the project will contribute to the development of reliable and round-the-clock renewable power, supporting the nation's growing energy needs while advancing sustainability goals.”
The project announcement comes days after Tata Power reported consolidated revenue of INR 18,898 crore for Q1 FY27 with an 8% year-on-year (YoY) improvement. Its profit after tax (PAT) of INR 1,401 crore also rose 11%, while EBITDA increased 8% to INR 4,249 crore.
The company said its generation, transmission and distribution, and renewable energy businesses supported the quarterly performance through improved operational efficiency.
During the quarter, the renewables business reported PAT of INR 612 crore, up 15% YoY, while the solar cell and module manufacturing business posted PAT of INR 371 crore, representing 3.9 times growth from a year earlier.
The rooftop solar segment contributed INR 1,350 crore in revenue while its PAT increased to INR 145 crore, or 1.7 times over the same period due to increased adoption across consumer segments and pan-India execution, the company shared. It installed 371 MW capacity with a 37% YoY increase during the quarter. The company’s total installed rooftop solar or Solaroof capacity reached 5.2 GW. Its total order book for the rooftop solar business stands at INR 639 crore.
It has also launched its own solar-plus-battery solution called MySine Battery for ‘wider market outreach’.
Its total renewable energy portfolio stands at 12 GW, including 5.3 GW of capacity under construction. Tata Power management said that the company is on track to deliver 2.5 GW of renewable energy capacity addition in FY27.
Speaking with analysts, Sinha said the company is reducing its reliance on central agencies such as SECI, as demand for solar, wind, and hybrid PPAs through that route has slowed, since several auctioned projects are yet to secure agreements with state governments. It is instead focusing on bidding directly to states and expects DISCOMs to increasingly issue customized tenders for FDRE, RTC, and pumped hydro-linked projects, while continuing to work with central agencies for pumped hydro.
During the reporting quarter, Tata Power produced 1,001 MW of modules and 862 MW of cells, calling it the company’s highest-ever quarterly production. Its total integrated solar cell and module production capacity stands at 4.9 GW. According to a Reuters report, Tata Power sees an opportunity for 2 GW to 3 GW solar exports to one European country.
Tata Power also recorded its highest-ever quarterly capital expenditure at INR 5,375 crore. The company said it is continuing investments across renewable energy development, domestic manufacturing, energy storage, and grid infrastructure.
Sinha said, “With more than ₹5,000 crore deployed towards capex during Q1, we have begun FY27 with a strong project implementation roadmap. The return of Mundra to full operations, industry leading solar rooftop growth and deepening cross-border energy partnerships further reinforce our position as a leading integrated power company.”
