Strategic business objectives
Our capitals
FFinancial
MManufactured
HHuman
IIntellectual
NNatural
SSocial and Relationship
Material topics*
M1Climate change
M2Environmental stewardship
M3Customer engagement
M4Workforce well-being
M5Social responsibility
M6Supply chain
M7Corporate governance
M8Future readiness and business-continuity
Risks
R1Sector-specific risk
R2Technology risk
R3Regulatory risk
R4Commercial risk
R5Financial risk
R6Business risk
R7Climate change, water and Business Continuity
Plan (BCP)
R8Project risk
*There are 27 material issues which are grouped under 8 material topics. refer to PG 80
S1
Profitable scaling up of Renewables, Transmission Networks, Power Distribution
Services and Energy Solutions business
Capital linkage
FFinancial
MManufactured
NNatural
Material topics
M1Climate change
M8Future readiness and business-continuity
Risks
R1Sector-specific risk
R4Commercial risk
R8Project risk
Performance
47%
Clean and Green operational
capacity
#1
Solar rooftop company for
eleven years in a row
7,403ckm
Total transmission portfolio
(including 1,841 ckm under
construction)
66%
Clean and Green capacity
post completion of underconstruction
projects
4.8+GWp
Total solar rooftop installed
capacity
2+lakh
Total EV home chargers
installed
10GW
Planned investment of ~H 6,500
crore in a photovoltaic ingot and
wafer manufacturing facility
(in two phases of 5 GW each)
13.1+million
Customers served across
distribution businesses
7,000+
Public, semi-public and bus
charging points
Increase the share of Clean and Green capacity
in the Company’s portfolio to 70% by 2030
- Commissioned 968 MW renewable capacity
- Clean and green under construction capacity of 9,630 MW, which includes
2,447 MW capacity of Complex/FDRE projects
~40 million consumer base across power distribution businesses by 2030
- Odisha DISCOMs: 9.9 million
- Mumbai DISCOM: 0.8 million
- Delhi distribution: 2.2 million
- Ajmer distribution: 0.2 million
>10,000 ckm of transmission capacity by 2030
- Commissioned 929 ckm and secured 226 ckm transmission projects,
enabling large-scale power evacuation across Maharashtra, Uttarakhand,
and Uttar Pradesh, along with key substation capacity addition supporting
NCR data centre demand
Leading in the Clean and Green energy space
through Solar Rooftop
- Achieved record rooftop solar installations across segments
- Strengthened order book via a network of 697 partners and more than
3,000 retailers
7.5+ lakh EV home chargers and 10,000+ EV
charging points installation by 2030
- Expanded EV charging network to 700+ cities and towns
S2
Leadership in ESG and sustainability domain with commitment to attain Carbon
and
Water Neutrality, No Net Loss of Biodiversity and Zero Waste to Landfill
Capital linkage
NNatural
SSocial and Relationship
Material topics
M1Climate change
M2Environmental stewardship
M6Supply chain
M7Corporate governance
M8Future readiness and business-continuity
Risks
R3Regulatory risk
R7Climate change, water and Business Continuity Plan
(BCP)
Performance
2%
Reduction in freshwater withdrawal
5,000kg
Plastic waste converted into livelihood-linked products
No Net Loss of Biodiversity by 2030
- Distributed 15 million Mahseer hatchlings across India, supporting
conservation of the Deccan and Golden Mahseer
- Under the Gaja Sanrakshana Project, deployed 15 early warning systems,
75 proximity sensors and trained 7,000+ stakeholders in Odisha to mitigate
human-elephant conflict
- Undertook afforestation and ecosystem restoration in the Western
Ghats through Project GhanVan and Re-Wilding of Hydros to strengthen
biodiversity and climate resilience
- Became the first company in India’s Electric Utilities & Power Generators
sector to publish a TNFD-aligned disclosure
Attain Water Neutrality by 2030
- 2% reduction in freshwater withdrawal
- Undertaken rainwater harvesting and catchment-level replenishment
projects to support long-term water security
Attain Net Zero by 2045
- Received SBTi validation for near-term emission reduction targets
- Deployed high-efficiency (ALMM-II, BNEF Tier-1) solar modules to reduce
supply chain emissions
Reduce specific fuel consumption by improving
operational efficiency
- Optimised thermal operations, improving PLF and fuel efficiency
- Strengthened coal management through audits of inflow, stockyards, and
combustion
Benchmark in waste management (gainful fly
ash utilisation)
- Sustained 100% fly ash utilisation
- Increased wastewater utilisation across operations
S3
Maintaining financial leverage at targeted levels
Capital linkage
FFinancial
Material topics
M8Future readiness and business-continuity
Performance
1.18times
Net Debt to Equity Ratio
3.34times
Net Debt/Underlying EBITDA
19%
Share of capex financed through
internal accruals
Healthy balance sheet to support sustainable
growth
- Maintained AA+/Stable credit profile, ensuring access to
low-cost capital
- Achieved S&P Global rating of BBB/Stable from BBB-/Positive, reinforcing
financial stability
Adopting debt-light models through innovative
financial engineering and restructuring
- Scaled asset-light models across rooftop solar and EV charging
- Leveraged partnership-led structures to optimise capital deployment
S4
Leveraging digital platforms to drive customer-centric businesses and
enable operational efficiency
Capital linkage
IIntellectual
HHuman
Material topics
M3Customer engagement
M8Future readiness and business-continuity
Risks
R2Technology risk
R6Business risk
Performance
CSAT score
92%
Customers in urban DISCOMs making payments digitally
Establishing digital platforms
- Investing in advanced technologies to build a smarter, more efficient
network and ensure reliable supply to end consumers, including
- Tata Power EZ Charge app
- Smart meter
- SCADA, ADMS
- GIS with network and consumer mapping
- Drone technology for network monitoring
- Suraksha Kavach
- Power Distribution Technology Centre, Integrated Control Centre with MCC and BCC
- Data Centre and Disaster Recovery Centre
Leveraging AI/ML and data analytics to deliver
customised customer solutions, enhance
engagement, and enable Value-Added Services
(VAS) for improved customer experience and
operational efficiency
- Leveraged AI/ML and data analytics to generate smart meter-based
insights, enabling customised consumption patterns and energy usage
recommendations for customers
- Implemented AI-driven customer engagement solutions including
automated feedback systems and WhatsApp bots, providing personalised,
real-time support and service accessibility
- Advanced demand response programmes (behavioural and automated)
with targeted customer participation, enabling customised load
management solutions and value-added incentives (UPI-based rewards)
- Enhanced customer-centric services through digital billing innovations such
as QR code–enabled payments, OCR-based billing, and regional language
initiatives like “Know Your Bill”, improving accessibility and user experience
- Strengthened Value-Added Services (VAS) through automated processes
such as system-driven suo motu reconnections and integrated platforms
like Anubhav Portal, ensuring seamless customer lifecycle management
S5
Developing future energy services and solutions
Capital linkage
FFinancial
IIntellectual
Material topics
M3Customer engagement
M8Future readiness and business-continuity
Risks
R1Sector-specific risk
R2Technology risk
Performance
160
No. of green annualised MUs sold during the year
120MW
Battery Energy Storage Purchase Agreement
2,800MW
PSP projects - under
construction
2,447MW
Under construction Complex/
FDRE projects
50+lakh
Total smart meters installed
Focusing on adapting and introducing new
models to meet the energy needs of customers
- Enabled real-time energy tracking, consumption optimisation and
enhanced customer control through smart meters integrated with the
My Tata Power app
- Progressed Pumped Storage Projects (PSP) initiatives for long-duration
energy storage (Bhivpuri and Shirwata)
- 2,447 MW - Under construction Complex/FDRE projects
Becoming the one-stop solution provider for
varied customer needs on energy through
integrated offerings
- Launched EnerUni, an integrated Energy-as-a-Service (EaaS) platform
supporting the entire lifecycle of energy management covering demand,
supply, generation, trading and analytics
- Expansion of Cooling-as-a-Service offerings for commercial and industrial
customers
- Use of IoT-enabled systems, real-time monitoring and data-driven
analytics for energy optimisation
- Launched MySine, a smart energy storage system for rooftop solar
customers, enabling storage of excess solar energy for use during outages
and peak demand periods, ensuring uninterrupted power supply and
improved self-consumption of solar energy
- Launched the Energy Insights and Innovation Lab (EIIL) in collaboration
with London School of Economics and International Growth Centre to
establish a research centre focusing on leveraging data, behavioural
science, and AI for smarter power solutions and drive consumer-centric
innovation in the power sector
- Solutioning for round-the-clock Green Energy by integrating Renewable
power and Pumped Storage capacity
S6
Creating an engaged, agile, inclusive and future-ready workforce
Capital linkage
HHuman
IIntellectual
Material topics
M4Workforce well-being
M5Social responsibility
Performance
2.25+lakh
Training hours for customer-facing personnel
52
PwD employees in total workforce
3.1+lakh
Employee volunteers across CSR activities
0.99+lakh
Training hours for middle and senior management
~80%
Female workforce at the 4.3 GW solar cell and module facility
523
Hires from business/engineering schools/institutes
100+
Collaborations for innovation and competency development
Enhancing employee engagement and targeting
to be among the employers of choice
- Strengthened employee engagement through engagement surveys,
townhalls, events, sports and structured HR programmes and initiatives
Building organisational capabilities to drive
customer-centricity
- Delivered technical and customer facing training for relevant employee
groups across clusters
Creating next generation leaders
- Implemented structured succession framework with defined readiness
pathways
- Leadership development programmes for Junior, Middle and Senior
Management
Focusing on diversity and inclusion
- Focused on workplace accessibility with role audits and assistive
infrastructure
- Various programmes and initiatives for increased diversity & inclusion
across employees
Nurture existing core competencies and build
new competencies in the areas of innovation,
technology and digital platforms
- Expanded Digital & AI Academy and Project Management Academy
- Rolled out rooftop solar training across Odisha DISCOMs
- Launched Twin Green Skilling Centres (TPSDI, Tamil Nadu)
Nurturing the culture for employee volunteering
- Embedded Felt Leadership to strengthen safety culture and accountability
S7
Minimising coal cost under recovery in Mundra
Capital linkage
FFinancial
MManufactured
Material topics
M8Future readiness and business-continuity
Risks
R1Sector-specific risk
R3Regulatory risk
R4Commercial risk
Performance
Received the Bronze Award from the National Safety Council for Safety
Excellence
Recognised at the CII 26th National Award for Excellence in
Energy Management 2025
Optimising the coal cost under recovery through better coal sourcing, and optimal
blending
- Sustained HCV–MCV coal blending at Mundra to optimise fuel costs
- Mundra SPPA signed with GUVNL; engagement with other procurers progressing towards
finalisation
Operating plant at optimum efficiency levels and achieving better operational
parameters
- DC during the operating period stood at 88.48%
- Overhauling of two units was completed to enhance plant reliability
S8
Set new benchmarks in operational excellence and financial returns
for existing businesses
Capital linkage
FFinancial
MManufactured
HHuman
Material topics
M7Corporate governance
M8Future readiness and business-continuity
Risks
R4Commercial risk
R5Financial risk
R8Project risk
Performance
92.7%
Thermal asset availability (excluding Mundra)
89.4%
Hydro asset availability
₹106crore
Incentive earned
99.8%
RE asset availability (solar)
97.9%
RE asset availability (wind)
96%
Solar module productivity yield
93%
Solar cell productivity yield
99.9%
Transmission availability
2%
AT&C loss reduction for Odisha DISCOMs
Achieving benchmark performance in various operational parameters in thermal and
hydro plants
- Reduced forced outages across the thermal fleet
- Deployed digital tools for monitoring, diagnostics, and optimisation across thermal and
hydro cluster
Maximising incentives in regulated businesses
- Improved incentive earnings through operational enhancements
Operating RE portfolio at benchmark, and above design parameters to increase the
yield
- Enhanced solar and wind availability using technology-driven optimisation tools
Aggregated Technical and Commercial (AT&C)
loss reduction in Odisha DISCOMs
- Strengthened DISCOM operations through smart metering, automation, and analytics
Improving asset performance by maximising digital initiatives
- Leveraged data from EV charging, rooftop solar, and hybrid solutions for forecasting and
efficiency
- The Tirunelveli plant was operated at full capacity utilisation during the current
financial year, reflecting enhanced manufacturing efficiency and stabilised production
processes