Mumbai: Tata Power has set an ambitious growth target of achieving Rs 1 lakh crore in revenue and Rs 10,000 crore in profit by 2030 as it accelerates investments across power generation, renewable energy, transmission, distribution and manufacturing. The company also announced plans to significantly expand its solar manufacturing capacity with a new 10 GW project in Odisha.
The announcements were made by Tata Power Chairman Natarajan Chandrasekaran during the company’s Annual General Meeting (AGM), where he outlined the utility’s long-term strategy centred on clean energy and sustainable growth.
Tata Power eyes Rs 1 lakh crore revenue milestone
Addressing shareholders during the AGM, Chandrasekaran said Tata Power aims to achieve Rs 1 lakh crore in revenue and Rs 10,000 crore in profit by the end of the decade.
He said the company’s growth will be driven by expansion across all major business segments, including:
- Power generation
- Transmission
- Distribution
- Renewable energy
- Rooftop solar
- Electric vehicle (EV) charging
- Manufacturing
Chandrasekaran added that Tata Power is transforming its business by enabling residential as well as commercial and industrial customers to adopt clean energy solutions.
According to the company, the strategy aligns with its vision of providing “energy as a service” while supporting India’s transition towards sustainable power.
New 10 GW solar manufacturing project planned
As part of its renewable energy expansion, Tata Power announced plans to establish a 10 GW solar equipment manufacturing facility in Odisha.
The project is expected to be formally announced in the coming months.
The expansion will significantly increase the company’s domestic manufacturing capabilities as India pushes to strengthen local production of solar equipment under its clean energy initiatives.
Currently, Tata Power operates 4.3 GW of solar cell and module manufacturing capacity at Tirunelveli, Tamil Nadu. Together with its Bengaluru facility, the company’s total manufacturing capacity stands at 4.9 GW.
The proposed Odisha project is expected to substantially enhance Tata Power’s position in India’s rapidly growing solar manufacturing sector.
Targeting 30 GW capacity by 2030
Tata Power has also reaffirmed its goal of achieving 30 GW of total power generation capacity by 2030, including 20 GW from renewable energy sources.
The company said it is expanding investments across renewable energy, rooftop solar and EV charging infrastructure to support India’s clean energy transition.
Chandrasekaran noted that Tata Power has already commissioned 2.5 GW of renewable energy projects, while an additional 5.1 GW remains under development.
The company expects these projects to contribute significantly towards its long-term capacity targets.
Distribution business may expand further
Beyond renewable energy, Tata Power is also exploring opportunities to expand its electricity distribution business.
Chandrasekaran said the company is open to participating in future privatisation initiatives by state governments seeking private sector participation in power distribution.
Tata Power already operates distribution businesses in several cities and believes additional opportunities could support operational efficiency and improve electricity services.
Clean energy remains key growth driver
The company continues to position renewable energy as the cornerstone of its future growth strategy.
Its investments span utility-scale renewable projects, rooftop solar installations, EV charging infrastructure and integrated solar manufacturing.
By strengthening domestic manufacturing and expanding renewable generation capacity, Tata Power aims to reduce dependence on imports while supporting India’s broader energy security and decarbonisation goals.
The company’s long-term roadmap reflects growing industry demand for clean energy solutions from households, businesses and industrial consumers.
Focus on sustainable growth
With ambitious financial targets, large-scale renewable investments and expansion into new manufacturing facilities, Tata Power is positioning itself for sustained growth over the next five years.
The proposed Odisha solar project, combined with the company’s renewable energy pipeline and expansion across multiple business segments, is expected to play a central role in helping Tata Power achieve its 2030 revenue and profitability goals.
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