Tata Power targets a 60% surge in revenue and a doubling of profits by 2030, as per the company’s CEO.

Tata Power Company Limited (TPCL) aims to reach annual revenues of Rs 1 lakh crore (over 60% increase from the last financial year) by 2030, with net profit doubling to Rs 10,000 crore. The company’s target is driven by its expansion in renewable energy and transmission and distribution business. TPCL has already reported a net profit of Rs 4,200 crore in FY24, and is planning to double its earnings before interest, tax, depreciation, and amortisation (EBITDA) to Rs 30,000 crore by 2030. The company is also planning to spend Rs 22,000 crore in capital expenditures this fiscal year, and expects average annual capex of about Rs 25,000 crore through 2030. TPCL aims to reach 33 GW of clean and green energy by 2030, from the current 6.7 GW of clean energy and 10.1 GW under construction. The company is also planning to set up 1,800 MW of pumped hydro projects and partner with Bhutan’s Druk Green Power Corporation to develop 5,000 MW of clean energy generation capacity.