The country met only 42% of the peak summer power demand this year from coal-based generation despite its stated reliance on it, Tata Power chairman N Chandrasekaran said on Friday, highlighting the growth in India’s clean and green energy capacity.
Addressing the 106th annual general meeting (AGM) of Tata Power, he said the country’s clean and green energy capacity crossed the 200-GW mark, accounting for 46% of the total installed capacity.
India has overtaken Germany to become the world’s third-largest generator of electricity from solar and wind, he said. “In India, solar remains the fastest growing renewable energy technology. Solar generation is expected to rise by over 135% in the next two years,” he said.
This is expected to be bolstered by wind and hydropower generation, growing at a compound annual growth rate (CAGR) of 36% and 18%, respectively, in the next two years, he added.
In order to counter the intermittency of an increasingly renewable fleet, complex auctions have emerged as a leader in India’s clean power auctions, making up more than 60% of the total volume in 2024, he said
“It is a very exciting time to be in this sector and, your company is one of India’s largest integrated power companies. And it is ideally positioned to lead the country’s energy transition,” he said.
The company’s generation portfolio, including pipeline capacity, has crossed the 25-GW mark and 65% of this capacity is clean and green energy, Chandrasekaran said.
He said the company has also transitioned to being a direct consumer facing company with its rooftop solar and EV charging solutions. Tata Power is the number one rooftop solar company in the country. The company has also one of the largest EV charging networks in the country, he added.
The 4.3 GW solar cell and module manufacturing plant in Tirunelveli, Tamil Nadu, has been fully commissioned and stabilised during the year.
In FY25, the company has maintained 99.9% transmission availability. Tata Power has also won transmission projects worth more than Rs 4,800 crore in FY25 and this brings its total portfolio to over 7,000 ckm including a pipeline capacity of more than 2,400 ckm.
The company serves 12.8 million distribution customers across seven distribution companies in Delhi, Mumbai, Ajmer and the entire state of Odisha.
He said the company has crossed a profit after tax of Rs 5,000 crore for the first time, reporting Rs 5,197 crore in FY25. This marks a 26% year-on-year growth. The company’s underlying earnings before interest, tax, depreciation and amortization (Ebitda) for FY25 has for the first time exceeded Rs 15,000 crore and stood at Rs 15,261 crore, he said