Tata Power is under discussions with many states, including Orissa, Madhya Pradesh, and Gujarat, to identify suitable land parcels for its nuclear power plants, the company’s CEO & Managing Director Praveer Sinha told Arunima Bharadwaj in an interview. The company is also actively pursuing bidding for Uttar Pradesh discoms that are to be privatised, and expects the tender to be out this month. Tata Power, which posted a 6% growth in its consolidated net profit at Rs 1,262 crore in Q1FY26 as compared to Rs 1,189 crore in Q1FY25, has charted out a Rs 25,000 crore capex plan for FY26. It is now in discussions with five states (Gujarat, Maharashtra, Rajasthan, Punjab, and Haryana) for signing of supplementary PPA for its 4,000 MW coal-fired ultra-mega power plant (UMPP) in Mundra.
You have announced plans to enter the nuclear power sector. Have you identified the land parcels for the nuclear units being planned?
We are in discussions with some of the states, like Orissa, Madhya Pradesh, Gujarat, to identify land. The land for nuclear plants has to be suitable from an earthquake perspective, and should not be in an earthquake-prone area. Also there should be enough water available. We need to have certain space which has to be left out. So we have started looking at these places and let us see how it goes. States are willing (to make the land available) , many have even shown us some land parcels and we are in discussion with them.
Can we expect a policy framework for private companies planning to enter into the nuclear power sector?
The first is the amendment to the Atomic Energy Act and the Civil Liability Act and thereafter there would be certain rules and regulations in terms of investments, sourcing of fuel, etc. Those things will happen subsequent to amendment to the Act. We are in discussion with the government, so let’s see what ultimately comes out.
What is the capex planned for FY26 and its break-up for each segment?
We have planned a Rs 25,000 crore capex for the current fiscal. Of this, 50-55% will be spent in renewable energy projects, 30% in transmission and distribution, and about 20% in generation and other business.
Going forward we will grow our RE business, rooftop solar, transmission and distribution, and pump hydro projects.
Can you provide an update on your transmission projects and the timeline for their completion?
We have a total of six transmission projects which are under implementation. Two are expected to be commissioned this quarter and the remaining four of them will get commissioned in the next 12-18 months.
They are progressing very well and under timeline. We are confident of implementing all of them.
At this stage, nearly 3,000 MW of projects are there which typically will cost about Rs 10,000 crores. Two of them getting implemented this quarter would be about Rs 2,000 crore. The balance is in early stages of implementation but in next 12-18 months all will be commissioned.
The company is planning to bid for Uttar Pradesh discoms being privatised. What is the update on that and are you looking at any other state discoms?
The tender for Uttar Pradesh discoms is expected to be out this month. We are in discussion with many other states also. We have also given our application in a few areas in Maharashtra, to expand our distribution license including parts of Thane, Navi Mumbai, Panvel, Pune, Nashik and Chhatrapati Sambhaji Nagar.
Many states like Madhya Pradesh, Rajasthan, Chhattisgarh are now looking at this opportunity especially for the benefit it brings to consumers, state discoms, and financial viability that comes to the distribution sector. I think in the next year we will see a lot of traction on this and we do hope that whatever initiatives we are taking, we are able to improve the quality of power supply while also bringing down the cost of power and better service to consumers going forward.
Is the company considering buying the remaining stake in Resurgent Power?
Right now these are all under discussion. So as things move forward, we will let you know.
How much RE capacity are you targeting to add this fiscal?
This year we are expecting about 1600 MW of our own RE projects to come up. We are right now at about 5600 MW. We will end the year with about 7200 MW spread across solar and wind and battery energy storage systems.
Does the company plan to expand its coal-based capacity or acquire any existing coal-based plants?
We typically keep on examining such proposals, nothing concrete has happened.
What is the update on your pump storage projects?
We have commenced work at the 1,000 MW pumped hydro storage plant in Bhivpuri, Maharashtra but it will come up by 2028-29. Similarly, the work has started on our Bhutan project of 600 MW and is likely to be completed in FY29.