India is making remarkable strides on its renewable energy journey, and Tata Power is here to be a part of the movement. One of the country’s leading and trusted energy companies, they’re making significant efforts to supercharge the green energy revolution. With over 100 years of legacy, Tata Power has evolved from a traditional power utility to a trailblazer in the renewable energy space, expanding its footprint across the value chain of India’s power sector. Under the leadership of Dr. Praveer Sinha, the company is focused on creating a sustainable future through the rapid development of Tata Green Energy and Tata Renewable Energy initiatives. In a recent conversation with Ayaan Kartik and Neeraj Thakur in Mumbai, Dr. Sinha shared his optimism about the growing green power economy and  Tata Power’s pivotal role in shaping it.
 

Tata Power's recent expansion efforts reflect its commitment to driving the renewable energy agenda in India. One of the key pillars of this strategy is to be a consumer-centric company. Dr. Sinha emphasizes the importance of delivering quality service to consumers, evident in Tata Power's successful takeover of the distribution business in Odisha. This move has helped improve the quality of service for over 1 crore consumers, reducing connection waiting times from several months to just seven days. Tata Power's focus on customer satisfaction aligns with its larger vision of expanding access to affordable and efficient power solutions for both urban and rural populations across India. 

As India grows green, the company is also aggressively ramping up its efforts in the renewable energy sector. Tata Power’s recent expansion of its solar cell and module manufacturing capacity is a clear indication of its commitment to growing Tata Green Energy and furthering India’s renewable energy ambitions. The previous capacity of 600 MW has now been expanded to 4.3 GW, positioning Tata Power as a major player in the country’s renewable energy development. Having installed more than 2,000 MW of capacity and securing over 20% of the market share, Tata Power is acing the game when it comes to rooftop setups. The government’s PM-Kusum program aiming to install rooftop solar in 1 crore households, is a testament to Tata Power’s dedicated efforts in aligning with national goals to promote solar energy and energy independence.

Indian renewable energy development sits at the helm of this advancement. It is inly though a cohesive movement that a visible change can be achieved in India’s green energy portfolio.

 

The power sector in India has witnessed impressive growth over the past few years. Dr. Sinha shared that there has been a sharp increase in demand, with last year’s demand growing by nearly 10% and this year showing a similar trend, with residential areas driving much of the surge. In March and April, demand spiked by over 10%. This upward trend in power demand further underscores the urgency of accelerating the country’s renewable energy transition.

However, it is not just the increasing demand that Tata Power is focused on. The company is committed to meeting India’s ambitious renewable energy targets. India has set a target of 500 GW of renewable energy capacity by 2030, a goal that Dr. Sinha believes is achievable, albeit with flexibility. While some industry experts express concerns about the timeline, Dr. Sinha points out that India has consistently exceeded its own capacity addition targets in the past. From having just over 100 GW of generation capacity in 2000, to reaching 420 GW in 2023, India has doubled its power capacity every decade. The current pace of renewable energy capacity addition is accelerating, and Tata Power’s deep involvement in green energy solutions places it in a prime position to contribute to this growth.

Dr. Sinha acknowledges that meeting the 500 GW target may take a few additional years beyond 2030, but he remains confident in India’s progress. "Whether it happens in 2032 or 2033, it will happen in that range," he said. Tata Power is also looking toward new sources of energy, such as hybrid projects, firm and dispatchable renewable energy (FDRE), group captive projects, and pumped hydro storage, which are rapidly becoming integral to the country’s power infrastructure. These advancements, combined with lessons learned from earlier renewable projects, will significantly speed up the implementation of India’s green energy plans.
 

Despite the promising growth in India’s renewable energy sector, there remain challenges in the power distribution system, particularly in the commercial and industrial segments. Power pricing in India remains skewed due to cross-subsidization, where residential consumers often pay less for electricity, while commercial and industrial users bear a disproportionate share of the cost. This pricing structure impacts India’s export competitiveness and poses challenges for businesses seeking to lower their energy costs.

Dr. Sinha emphasized the importance of regulatory reforms to address these issues. He pointed out that current regulations already mandate that the cost of power supply should not vary by more than 20% between the highest and lowest rates. Ensuring the proper enforcement of these regulations will bring much-needed discipline to power pricing, which is essential for improving India's competitiveness on the global stage. Furthermore, Dr. Sinha expressed his support for suggested changes in the Electricity Act, which aims to rationalize tariffs and make the power sector more efficient. These reforms will pave the way for more transparent and predictable pricing, benefiting both consumers and businesses alike.

In terms of power distribution, Dr. Sinha sees significant opportunities in privatization and reforms in state-run distribution companies. While only one state in India has fully privatized its distribution companies, Dr. Sinha believes the proposed changes in the Electricity Act could introduce models like public-private partnerships, which have already been successful in places like Delhi and Odisha. These reforms will help alleviate the financial stress faced by many state utilities and improve the overall financial health of the power distribution sector.
 

While Tata Power is a well-established player in India’s energy landscape, it is not currently looking to expand into international markets. Dr. Sinha made it clear that while global opportunities exist, the Indian market presents the most attractive growth prospects. “We want to achieve scale, and the Indian market is best suited for that in the current scenario,” he said. Tata Power’s deep understanding of India’s energy landscape and its growing renewable energy capabilities make it ideally positioned to capitalize on the country’s energy transformation.
 

India’s energy future is undeniably tied to the success of renewable energy, and Tata Power is setting the pace. Through its investments in Tata Green Energy, innovative solutions in solar power, and focus on consumer-centric approaches, Tata Power is not just playing a part in the country’s energy revolution — it’s attempting to shape it. Dr. Sinha’s leadership, combined with Tata Power’s relentless commitment to sustainability and green energy, ensures that the company will continue to be at the forefront of India’s renewable energy development, helping the country achieve its long-term climate and energy goals.

As India strives to meet its renewable energy targets and create a sustainable energy ecosystem, Tata Power’s green initiatives are a shining example of how the private sector can drive transformative change in the energy sector.