Tata Power to invest ₹1.25 lakh crore in capex, targets ₹10,000 crore PAT by FY30

Tata Power has officially announced through a stock exchange filing that it plans to invest ₹1.25 lakh crore as capital expenditure (capex) to generate more than 30 GW of electricity between the financial years 2025–26 (FY26) and 2029–30 (FY30).

Around 65 per cent of this investment will be directed towards clean and green energy projects, enabling the company to achieve 100 per cent clean and green power generation by 2045, according to the regulatory filing.

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By FY30, Tata Power expects to achieve revenues of ₹1 lakh crore, an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of ₹30,000 crore, and a profit after tax (PAT) of ₹10,000 crore.

In a related development, Tata Power also announced plans to allot non-convertible debentures (NCDs) worth ₹2,000 crore through a private placement. The company will issue 2,00,000 NCDs with a face value of ₹1,00,000 each.

The NCDs are unsecured, redeemable and rated instruments that will be listed on the BSE debt segment. They are structured in two series with maturities of three years and five years, respectively, with bullet repayment on maturity. The debentures carry AA/Stable ratings from India Ratings and Research and CRISIL Ratings.

The company stated that it plans to expand its total electricity generation capacity to over 30 GW by FY30, including more than 20 GW from renewable sources. Currently, Tata Power operates 15.7 GW of capacity, of which 7 GW is from clean energy sources. Transmission lines spanning 7,047 circuit kilometres (ckm) were operational or under construction during the same period, the filing said.

Tata Power, which invested ₹13,214 crore in FY24 and ₹17,273 crore in FY25, plans to invest approximately ₹25,000 crore annually over the next five years, up to 2030.

Looking ahead to FY30, the filing stated that Tata Power expects to operate over 10,000 ckm of transmission lines and serve nearly 40 million distribution customers, reinforcing its position as one of India’s leading integrated power companies.