Sanjay Banga to head Tata Power's renewable verticle, redesignated as President-Renewables, ETHRWorld
Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis.
Download ETHRWorld App Get Realtime updates
Save your favourite articles
Scan to download App
New Delhi, Tata Power on Wednesday redesignated Sanjay Banga , President-Transmission & Distribution as President-Renewables with effect from June 1, following the resignation of Deepesh Nanda from the post. Nanda has submitted his resignation due to personal commitments and will be relieved from his services with effect from the close of business hours on May 31, 2025, a regulatory filing said.According to the filing, pursuant to an internal reorganization Sanjay Banga, President-Transmission & Distribution has been re-designated as President - Renewables and appointed as CEO & Managing Director of Tata Power Renewable Energy Ltd from June 1, 2025.Banga heads the Transmission and Distribution Vertical at Tata Power which includes Mumbai, Delhi, Ajmer Distribution and Powerlinks Transmission. Prior to this, he was Chief Executive Officer of Tata Power Delhi Distribution Limited (Tata Power-DDL), a Public Private Partnership (JV) of Tata Power and Government of National Capital Territory of Delhi.A power sector veteran with around three decades of experience in power generation and distribution business, Banga brings with him expertise in the power sector, covering areas of Operational Technologies, Project Management, Utility Business Process Reengineering and Regulatory Environment that are essential for strengthening of electrical utilities to meet reliability and AT&C loss reduction targets under regulatory regime, the filing stated.Banga started his career with National Thermal Power Corporation (NTPC) as an Engineer Trainee and was involved in the Operation & Commissioning of Super Thermal Power Projects (1989 to 1995).Prior to joining Tata Power (DDL), he worked with Reliance Energy (earlier known as BSES Ltd) from 1996 to 2003, where he was associated with the entire spectrum of generation activities covering wide aspects of Operations, Maintenance, Planning, Design and Project Engineering.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
a day ago
- Time of India
Tata Power Q1 net profit rises over 6% to ₹1,262 cr
New Delhi: Tata Power on Friday posted over 6 per cent on-year rise in consolidated net profit at ₹1,262 crore in June quarter mainly due to higher revenues from the renewable as well as transmission and distribution business. The company had a net profit of ₹1,189 crore in the quarter ended June 30, 2024, a statement stated. Its revenue rose to ₹17,464 crore in the quarter, from ₹16,810 crore in the same period a year ago. "We have commenced FY26 on a high note, with strong performance across all our business verticals. Our renewable energy portfolio continues to exceed expectations, as we drive innovation, scale, and efficiency across the clean energy value chain," Praveer Sinha, CEO and Managing Director, Tata Power, said. He further stated that the generation and T&D businesses are delivering impressive gains. The company's discoms are providing reliable electricity to 13 million customers, he added. Through its all-round performance, Odisha Discoms have emerged as the national model of Discom reforms, he noted. In-line with its target to reach 40 million customers by 2030, the company has applied for a license to expand its distribution footprints in key growth areas of Maharashtra. "We are proud to contribute towards India's energy transition with a generation portfolio exceeding 26 GW (including projects under development), over 65 per cent of which comes from clean, green sources," he added. It commissioned 652 MW of projects in Q1 including 94 MW of its own portfolio and 560 MW of 3rd party EPC (engineering procurement construction). Total utility-scale operational renewable energy capacity stands at 5.6 GW (4.6 GW solar and 1 GW wind) and plans to add 1.6 GW during the next three quarters of FY26. The company achieved a record rooftop solar installation of 270 MWp in Q1 FY26. Total installations above 2 lakh and cumulative capacity above 3.4 GWp. The company sold 107 MW of modules and 54 MW of cells to third parties in Q1 FY26 and the order value of Rs 1,303 crore. In the transmission segment, it is currently focusing on six projects, which aggregate to more than 2,400 circuit kilometer (Ckm), helping it reach over 7,000 operational Ckm by 2027. The company has applied for expansion of electricity distribution license in Maharashtra and targets key growth areas including parts of Thane, Navi Mumbai, Panvel, Pune, Nashik and Chhatrapati Sambhaji Nagar. It has achieved the milestone of installing 30 lakh smart meters across India in Q1FY26. Tata Power Company Ltd, a leading integrated power company and a part of the Tata Group, India's largest multinational business conglomerate, owns a diversified portfolio of 15.8 GW. Tata Power has 7 GW of clean energy generation, constituting 44 of its total capacity. PTI>
Time of India
2 days ago
- Time of India
Tata Power Q1 profit rises 6% to Rs 1,262 crore
Tata Power on Friday posted a tad over 6% year-on-year rise in consolidated net profit at '1,262 crore in the June quarter on the back of higher revenues from the renewable as well as transmission and distribution (T&D) businesses. Net profit for the June quarter of the previous fiscal was '1,189 crore. The company's revenue rose to '17,464 crore during the quarter from '16,810 crore in the same period a year ago. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management healthcare Public Policy Project Management Artificial Intelligence Data Science Design Thinking CXO Healthcare Management Product Management Cybersecurity Others Finance Degree Data Analytics Digital Marketing Leadership PGDM Data Science MBA Technology MCA others Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo "Our renewable energy portfolio continues to exceed expectations, as we drive innovation, scale, and efficiency across the clean energy value chain," Praveer Sinha, CEO and MD, Tata Power, said, adding that the generation and T&D businesses were delivering impressive gains and that the company's discoms are providing reliable electricity to 13 million customers. "We are proud to contribute towards India's energy transition with a generation portfolio exceeding 26 GW (including projects under development), over 65% of which comes from clean, green sources," he added. Total utility-scale operational renewable energy capacity stands at 5.6 GW (4.6 GW solar and 1 GW wind) and it plans to add 1.6 GW in the next three quarters of FY26. The company achieved a record rooftop solar installation of 270 MWp in Q1 FY26 with total installations above 2 lakh and cumulative capacity above 3.4 GWp. Live Events
Mint
2 days ago
- Mint
Tata Power vs Adani Power: Which stock to buy after Q1 results 2025? EXPLAINED
Tata Power vs Adani Power: Indian power majors, Tata Power and Adani Power, declared their Q1 results 2025 on Friday. Both companies reported a strong set of numbers. Adani Power boasts a strong PAT 9Profit After Tax) and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation), while Tata Power reported its 23rd consecutive quarter of PAT growth, with a strong focus on clean energy, manufacturing, and distribution expansion. This is expected to put Adani Power and Tata Power shares under the bulls' radar on Monday, as these companies have reported strong Q1 results despite weak power demand. Speaking on the Q1 results 2025 reported by these Indian power majors, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said, "During Q1FY26, Adani Power boasts a strong Profit After Tax of ₹ 3,305 crore and Continuing EBITDA of ₹ 5,744 crore, showcasing its resilience. Its strategic focus on swift project execution, strategic acquisitions, and sustainability positions it for future growth towards its 30 GW target by 2030. On the other hand, Tata Power has a 6% YoY growth in Profit After Tax, marking its 23rd consecutive quarter of PAT growth, with a strong focus on clean energy, manufacturing, and distribution expansion." Speaking on Adani Power Q1 results, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "Adani Power has reported a strong profit of ₹ 3,305 crore, which is slightly lower than last year's ₹ 3,912 crore but still solid, especially considering weaker power demand due to early monsoons and lower merchant tariffs. Revenue also dipped a bit to ₹ 14,167 crore. But despite that, their operating margins stayed healthy, and EBITDA came in at ₹ 5,744 crore, which is a good recovery from last quarter." "What stands out is their focus on scale and efficiency. Even in a low-demand quarter, they remained stable, mainly because of their strong base of long-term PPAs and good cost control. Of course, recent acquisitions have added to depreciation, which is putting some pressure on profits," Goel said, adding, "Tata Power reported higher revenue at ₹ 17,464 crore, but a much lower profit of ₹ 1,262 crore. It looks like underperformance compared to Adani POWER, but there's more to the story." "Tata Power is clearly in a transition phase, shifting focus to clean and green energy. Around 44% of their current capacity is now renewable, and they're aiming for 70% by 2030. That kind of shift requires a lot of investment, and that's showing up in the short-term earnings. But they're building long-term value. They're also growing in areas like EV charging and rooftop solar, which could become strong drivers in the future," Gaurav Goel of Fynocrat Technologies said. On which stock to buy after the announcement of Q1 results 2025, Seema Srivastava of SMC Global said, "For a long-term perspective, Adani Power appears more attractive due to its higher growth potential and lower P/E ratio of around 10-15, compared to Tata Power's P/E ratio of around 32-40. Adani Power's aggressive expansion plans and strategic partnerships, like regular payments from Bangladesh, underscore its core strengths and competitive edge. However, Tata Power's diversified portfolio and strong brand reputation make it a stable choice." Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
