Tata Power to spend ₹25,000 crore as capex in FY26, two discom bids eyed in UP: CEO Praveer Sinha
Tata Power is looking to spend ₹ 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 ₹ 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 ₹ 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 ₹ 20,000 crore for FY25, but could achieve over ₹ 16,000 crore as some transmission and renewable projects got delayed, he said. 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."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Indian Hotels MD flags high taxes for hospitality sector
PTI Published 30 May 2025, 03:40 PM IST New Delhi, May 30 (PTI) India holds immense potential to attract foreign tourists, but it is lagging severely, Indian Hotels Company Limited MD and CEO Puneet Chhatwal said on Friday, asserting that high tax rates were a key impediment in creating global brands for the country's hospitality sector. He also sought an "additional push" while referring to the "infrastructure" status accorded to 50 tourist destinations in this year's Budget and reiterated the long-standing demand for an "industry" status. Alluding to the lack of competitive advantage in terms of margins, the Indian Hotels Company Limited (IHCL) MD and CEO said, "If you are the highest taxed sector in every possible way, GST, excise, paying all charges during COVID when your business is shut with the least amount of budget for promotion, for marketing the destination and just relying on what we have, then how are you going to create those kind of global brands on your own". Speaking at CII's Annual Business Summit, Chhatwal said India is not just a market of scale but a market of aspiration. It is where the next 500 million middle-income travellers will emerge and their disposable income, coupled with global travel ambitions, will position India very differently within the country and across the globe. In an apparent reference to Finance Minister Nirmala Sitharaman's budget speech, he said, "We at least got infra status for those 50 destinations which we have been fighting for, including industry status, which is a state subject. Collectively, all the associations have worked well to get to where we are, but now where we are, we need that additional push". In her Budget speech on February 1, Sitharaman stated that the top 50 tourist destination sites in the country will be developed in partnership with states through a challenge mode. Land for building key infrastructure will have to be provided by states.
&w=3840&q=100)
First Post
2 hours ago
- First Post
Why India will be the data capital of the world in five years
Telecom Minister Jyotiraditya Scindia said that the telecom subscriber base in India has expanded from 800 million a decade ago to 1.2 billion this year, a level where India is now the second largest mobile market read more Indian telecom minister has projected that the country is poised to become the data capital of the world within next five years. Source: PTI Indian telecom minister has projected that the country is poised to become the data capital of the world within next five years. While speaking at the CII Annual Business Summit 2025 on Thursday (May 29), Jyotiraditya Scindia said that India is leading a digital-first economy, with the telecom revolution being the driving force. 'India, I believe, in the next five years, will become the data capital of the world,' Scindia said. The minister informed that the telecom subscriber base in India has expanded from 800 million a decade ago to 1.2 billion this year, a level where India is now the second largest mobile market. He added that the broadband base in the country has also grown to 940 million. STORY CONTINUES BELOW THIS AD The minister highlighted how connectivity costs have fallen drastically over the past decade, recalling days when tariffs were as high as Rs 16 per minute. 'When we talk about data, 11 years ago, 1 GB of data would cost you Rs 287. Today, 1 GB of data costs you Rs 9. There is a 97 per cent reduction in the cost of communication,' Scindia was quoted as saying by news agency PTI. The minister concluded by stating that India's cost of data communication is currently just 5 per cent of the global average. Sanchar Mitra Scheme Meanwhile, the government has also launched the Sanchar Mitra Scheme, which aims to improve the connection between the telecom industry and everyday citizens. When asked about whether satellite communication service would be available in India, Scindia said it was up to telecom companies to decide how to go about it after they get necessary permission from the government. He emphasised that the government's role is to issue these licenses as long as the companies meet specific requirements. Currently, two companies have already qualified, and a third is close to qualifying. Scindia reaffirmed the government's commitment to granting licenses to companies that comply with the rules. He also mentioned that once companies receive the necessary spectrum to operate their services, they must chart their own course based on the regulations set by the Telecom Regulatory Authority of India (TRAI).
Mint
2 hours ago
- Mint
RBI to prepare framework for ethical adoption of AI in financial sector
Mumbai, May 30 (PTI) The Reserve Bank will prepare a framework for responsible and ethical adoption of artificial intelligence (AI) in the financial sector during the current financial year, the central bank's annual report said. Driven by rapid advances in computing power and the vast availability of digital data, AI and machine learning (ML) technologies have seen growing interest and significant progress in recent years, with financial institutions globally and domestically increasingly adopting these technologies. You may be interested in The Reserve Bank will prepare a framework for responsible and ethical adoption of AI in the financial sector, as per the agenda for 2025-26 spelt in the RBI's annual report for 2024-25. "The Reserve Bank is exploring and implementing AI/ML-driven solutions in its own functions," it said. It has constituted an external committee in December 2024, comprising experts with a mandate to recommend a Framework for Responsible and Ethical Enablement of AI in the financial sector. The Reserve Bank said it undertook several measures to safeguard the financial system by further strengthening the regulatory and supervisory framework of banking and non-banking sectors in line with global best practices. Going forward, the RBI said concerted efforts would be made, inter alia, towards rationalisation and harmonisation of regulations across regulated entities; preparing a framework for responsible and ethical adoption of AI in the financial sector; and strengthening of liquidity stress tests of commercial banks, among others. Further, fine-tuning the existing complaint management and grievance redress mechanism, including exploring the use of AI, would remain in focus, the report said. On AI governance policy, the report said framework for AI Policy for the Reserve Bank for responsible and ethical use of AI/machine learning (ML) technologies by employees, vendors, and third-party partners will also be initiated. By providing clear guidelines on data handling, consent and security, the policy seeks to maintain the integrity of the Reserve Bank's operations while using the opportunities that AI offers, it said.
