Energy is Progress
value for all stakeholders
High powered growth
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CREDIT RATING UPGRADES
Domestic
AA+/Stable
AA/Positive
International
BB+/Stable
Ba1/Stable
y-o-y growthNEW ACQUISITIONS
Won two transmission projects worth ` 2,300 crore
Jalpura Khurja Power Transmission Limited
TP Bikaner III Neemrana II Transmission Limited
Robust operational performance
0 MUs
0%
0 MW
0 GW
0 million km
0+ lakh
Responsible business
ESG RATINGS
B
B
67
A
decarbonisation
journey
more scientific and credible
Reducing CO2 emissions across
Dr. Praveer Sinha
CEO & MD, The Tata Power Company Limited
Dear Stakeholders,
It gives me great pride to address you after an exceptional year of growth and achievement at Tata Power. In the last financial year, we proudly joined the prestigious ranks of companies with a market capitalisation exceeding ₹1 trillion, becoming the second infrastructure entity and the sixth Tata Group company to reach this significant milestone.
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MEET THE BOARD 
As the country's foremost integrated power company, we champion sustainability initiatives for a greener, more resilient India, by prioritising universal access, energy efficiency, retrofitting, and electric mobility.
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impact
Renewables
Renewables
The renewables cluster includes large-scale solar, wind, and hybrid projects, as well as the production of solar modules and cells, solar engineering, procurement, and construction (EPC).
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New-age energy solution
New-age energy solution
Our new-age energy solutions cluster comprises rooftop solar, electric vehicle (EV), and home-automation verticals.
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Transmission and Distribution
Transmission and Distribution
Our transmission network spans across various geographies covering Mumbai, Uttar Pradesh, West Bengal, Bihar, Rajasthan, and Haryana with 6,277 Ckm.
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Generation
Generation
We oversee conventional and hydropower assets spanning North, West, and East India, boasting a capacity of 10,183 MW.
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Profitable scaling-up of Renewables, Transmission & Distribution, Services and Energy Solutions business
TARGETS
Increase share of clean and green portfolio in Company’s portfolio to 70% by 2030
40 million customer bases across distribution businesses in next five years
Foray into Tariff Based Competitive Bidding (TBCB) regime in Transmission Infrastructure
PROGRESS
40%
Clean and green
12.5 million
Customer base in T&D
Won two projects worth
₹ 2,300 crore
• TP Bikaner III Neemrana II Transmission Limited
Focusing on sustainability, with an intent to attain carbon and water neutrality
TARGETS
Attain carbon net zero before 2045
Reduce specific fuel consumption by improving operational efficiency
Benchmark in waste management (gainful fly ash utilisation)
PROGRESS
SBTi – Validation
Received for near-term objectives
597 MW
Clean and green capacity commissioned
26.3 MT
Coal consumption in FY24
97.4%
Current fly ash utilisation
Maintaining financial leverage at
targeted levels
TARGETS
Strengthening of balance sheet by reducing debt to a more sustainable level
Adopting debt-light models through innovative financial engineering and restructuring
PROGRESS
0.99
Net debt to equity
2.75
Net debt to underlying EBITDA
1.92
Interest coverage ratio
69%
Capex financed through internal accruals
8%
Increase in Net Debt even after Capex spend of ₹ 13,000+ crore
Leveraging digital platforms to drive customer-centric businesses
TARGETS
Establishing digital platforms for new businesses like EV charging, home automation and energy services
Leveraging data analytics to deliver customised solutions and value-added services (VAS) to customers
PROGRESS
- Investments in smart grid technologies such as smart meters, sensors, IOTs to make more intelligent and efficient network
- Development and upgradation of energy storage and battery system specially to meet high energy demand due to EV charging solutions etc.
- State-of-the-art customer feedback and analytics systems
- Established policy for data privacy and security
Developing future energy services
and solutions
TARGETS
Focusing on adapting and introducing new models for satisfying energy needs of the customers
Becoming the one-stop- solution provider for varied customer needs on energy through integrated offerings
PROGRESS
10+ lakh
Smart meters installed across our discoms in Mumbai, Delhi and Odisha
120 MWh
Storage capacity enabled us to execute India’s largest solar-battery (BESS) project for SECI
- Locked in 2.8 GW of Pumped Hydro Storage Plants for making RE dispatchable
- Comprehensive solutions for integrating on site RE, off site RE, green mobility and energy efficiency
Creating an engaged, agile, and
future-ready workforce
TARGETS
Enhancing employee engagement, and targeting to be amongst the employers of choice
Building organisational capabilities to drive customer- centricity
Creating next generation leaders
PROGRESS
93%+
Retention rate
4.9+ lakh
Training hours in FY24
49,872 hours
Training for customer- facing personnel
73,328
Hours of training for middle and senior management
192 hires
From business/ engineering schools/ institute
Minimising coal cost under recovery
in Mundra Plant
TARGETS
Optimising the coal cost under recovery through better coal sourcing, and optimal blending
Operating plant at optimum efficiency levels and achieving better operational parameters
PROGRESS
50%
Supplementary PPA is under discussion with full pass through of coal
Aligned to production levels enabled by regulatory norms
Setting new benchmarks in operational excellence and financial returns for existing businesses
TARGETS
Achieving benchmark performance in various operational parameters in thermal and hydro plants
Maximising incentives in regulated businesses
Operating RE portfolio at benchmark, and above design parameters to increase the yield
PROGRESS
- Reduction in forced outage
- Use of digital platforms and analytics to optimise plant performance
₹ 114 crore
Total incentives earned
Availability improvement and generation optimisation through technology interventions
