Tata Power looking to spend Rs 25,000 cr as capex in FY26; keen to bid for two discoms in UP: CEO
is looking to spend Rs 25,000 crore as capital expenditure (capex) in FY26 and the company is also keen to bid for two discoms in Uttar Pradesh, CEO Praveer Sinha said as he shared plans for the new fiscal. About the company's plans for nuclear projects, he said Tata Power is awaiting legal changes, and will proceed accordingly.
The CEO made the remarks during a post-earnings call on Wednesday.
Tata Power posted a nearly 25 per cent rise in consolidated net profit to Rs 1,306.09 crore in March quarter of FY25, aided by strong performance across core businesses comprising generation, transmission and distribution, and renewables.
When asked about the company's capex plans for FY26, Sinha told PTI, "Capex for FY26 is Rs 25,000 crore, 50 per cent to renewables, 20 per cent to generation (including pumped hydro), and 30 per cent to T&D (transmission and distribution)."
The company had planned a capex of Rs 20,000 crore for FY25, but could achieve over Rs 16,000 crore as some transmission and renewable projects got delayed, he said.
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In FY25, Tata Power added 2.3 GW capacity, while in FY26, the company is on track to add 2.5-2.7 GW of capacity, Sinha said.
"We are also finalising long-term wind turbine supply (1-1.5 GW) within the next three-four weeks," he added.
On the plans for nuclear projects, the CEO said the company is keen on that but any progress will be made only after legal clarity.
"We are awaiting amendments to the Nuclear Power Act -- specifically civil liability and private sector participation. We expect these in the monsoon session. We're preparing with site evaluations, water arrangements, and technology reviews, but next steps depend on legal clarity," he said.
Replying to another question on interest in two discoms (power distribution companies) which being privatised in Uttar Pradesh, Sinha said the company will examine the opportunity.
"Yes, we are very much interested (in the UP discoms) and expect the bid documents by this month-end. We will definitely participate," he said.
Tata Power will continue to evaluate good opportunities, aligned with long-term strategy. All suitable opportunities will be examined.
In Uttar Pradesh, the government is in the process to privatise discoms -- Purvanchal Vidyut Vitran Nigam Ltd (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Ltd (DVVNL). The two discoms cover 42 out of 75 districts of Uttar Pradesh.
About interests in exports to the US, he said "Our immediate priority is to serve the domestic market, especially under PM Surya Ghar Yojana, which requires GTR modules. After that, we can examine export possibilities."
The company has a lot of ongoing orders both in-house and from third-party, to be completed over the next six months, Sinha said in response to a question on Tata Power's plans to tap the US which has imposed higher import duties on solar modules from China, Vietnam and Malaysia.
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