Sustainable Strategy in Action

Tata Power follows a co-creation approach for strategy formulation through a bottom-up exercise guided by direction from our leadership team resulting in finalisation of strategy plans. Evaluation of our strategies is done annually to keep them updated to evolving market realities and stakeholder requirements. A well-planned and structured planning process along with a feedback loop helps in seamless implementation and course correction of the plans, leading to sustainable outcomes.

Delivering Value Through Four Key Business Clusters


Transmission and Distribution


New-age Energy Solutions

Strategic Business Objectives

Profitable scaling-up of Renewables, Transmission & Distribution, Services and Energy Solutions business


Increase share of clean and green portfolio in Company's portfolio to 70% by 2030

40 million customer base across distribution businesses by FY28

Being the leading EV charging network provider in India



Clean and green

12.9 million

Customer base in T&D


Public EV charging points energised across 351 cities and towns

Focusing on sustainability, with an intent to attain carbon and water neutrality


Attain carbon net zero before 2045

Reduce specific fuel consumption by improving operational efficiency

Benchmark in waste management (gainful fly ashutilisation)


595 MW

Clean and green capacity commissioned

21.5 MT

Coal consumption in FY23


Current fly ash utilisation

Maintaining financial leverage at targeted levels


Strengthening of balance sheet by reducing debt to a more sustainable leve

Adopting debt-light models through innovative financial engineering and restructuring



Net debt to equity ratio


Interest coverage ratio


Net debt to underlying EBITDA


Capex financed through internal accruals

` 4,000 crore

Capital infusion by BlackRock and Mubadala for Renewables business

Leveraging digital platforms to drive customer-centric businesses


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

Generating insights from various customer data across businesses to improve offerings


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

C-SAT score above 90% for Mumbai & Delhi Discoms

Developing future energy products and solutions


Focusing on adapting and introducing new models for satisfying energy needs of the customers

Becoming the one-stopsolution provider for varied customer needs on energy through integrated offerings


5.1+ lakh

Smart meters installed across Mumbai, Delhi and Odisha

- Smart energy meter based VAS for distribution customers

- Green power open access solutions

- Green term ahead market participation

- Floating solar

Established and well received offerings:

- Green Power (Mumbai distribution)

- Solar rooftop business offerings

- Microgrids

- ESCO solutions

Creating an engaged, agile, and future-ready workforce


Enhancing employee engagement, and targeting to be amongst the employers of choice

Building organisational capabilities to drive customercentricity

Creating next generation leaders

Focusing on diversity and inclusion

Nurture existing core competencies and build new competencies in the areas of innovation, technology and digital platform

Nurturing the culture for employee volunteering



Retention rate

6.7+ lakh

Training hours in FY23

18,614 hours

Training for customerfacing personnel


Hours of Training for middle and senior management

303 hires

From business/engineering schools/institute

Tiered leadership development programmes – SLDP, AYLP and ELP


Women in leadership positions


Women in overall full-time workforce

- Digital academy creating digital literacy for fuelling transformation and growth

- Collaborations with academia


Collaborations with bodies for new innovations, competency development etc.

1+ lakh

Hours of employee volunteering under 'Arpan'

Minimising coal cost under recovery in Mundra Plant


Optimising the coal cost under recovery through better coal sourcing, and optimal blending

Operating plant at optimum efficiency levels and achieving better operational parameters




Supplementary PPA is under discussion with full pass through of coal

Aligned to production levels enabled by regulatory norms

Setting performance yardsticks for existing businesses


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

Aggregated Technical and Commercial (AT&C) loss reduction in Odisha Discoms

Improving asset performance by maximising digital initiatives


Reduction in forced outage

Use of digital platforms and analytics to optimise plant performance

` 76 crore

Total incentives earned

Availability improvement and generation optimisation through technology interventions


Reduction at overall level

New age initiatives such as customer service chatbot

Introducing industry 4.0 technology including Artificial Intelligence in operations

Strategy to Drive the Clusters

Our four key business clusters are propelled by the opportunities, strategy, and enablers aligned to the evolving market context, ensuring profitable and sustained growth.


Renewables Cluster encompasses large-scale solar, wind, and hybrid projects, as well as the production of solar modules and cells, solar engineering, procurement and construction (EPC), and solar pumps. India has set a target of installing a total of 500 GW of solar and wind power by 2030, and to meet this goal, MNRE has targeted approximately 50 GW of bids to be issued annually for the next 5 years. The total installed renewable energy capacity of India has risen from 12% share in FY12 to 30% in FY23, after having crossed the 100 GW mark for the first time in FY22. Tata Power's Renewables business aims to capitalise on this significant demand, and therefore, is an important aspect of the Company's future plans.

Key Focus Areas

Retain leadership

In utility scale EPC

Achieve best-in-class

Efficiency and yield through operational excellence, project execution, automation, and sustainability

Commission and operate 4 GW

Cell and module line by FY24 as greenfield expansion

Sustain best-in-class project execution

Through speed, cost optimisation, standardisation, and digitalisation

Key Actions and Enablers

Building capabilities for the new opportunities in hybrid/round-the-clock/peak power bids

Establishing and ramping-up a plan for new 4 GW solar PV cell and module manufacturing plant

Improving margins on EPC projects

Focused efforts on next-gen photo-voltaic material and alternate battery chemistry


>15 GW

(70% by 2030 and 100% before 2045)
Clean and green Capacity

>` 25,000 crore

Growth in revenue from EPC and manufacture verticals

New-age Energy Solutions

Our new-age energy solutions are crucial in promoting long-term business sustainability and facilitating our shift to a more eco-friendly, customer-centric energy provider. This cluster comprises our rooftop solar, electric vehicle (EV), and home-automation verticals.

Key Focus Areas

Attain multi-fold growth in rooftop-solar and group captive portfolio

Leveraging brand, utilising channels, tapping profitable, and productive spaces for expanding portfolio

Partnering growth of EV ecosystem

Enabling EV infrastructure and enhancing digital customer experience

Build preference for EZ Home brand

Focus on expanding the home market to deliver value-led home automation products and achieve best-in-class customer service

Key Actions and Enablers

Profitable growth while sustaining market leadership position in solar rooftop

Efforts to capture a sizable market share in the fastgrowing group captive market

Aggressive scale-up of EV charging and improve utilisation


Public EV charging
points energised


Home automation
devices sold

1,650+ MW

of rooftop solar
EPC project executed

` 1,900+ crore

combined EPC order book
for rooftop solar and
group captive



EV charging points


Market share in
rooftop solar

Transmission and Distribution

Our T&D cluster serves 12.9 million customers and has about 4,194 Ckm of transmission lines. In the long-term, the business expects to achieve its objectives under the SOAR strategy:

  • Showcasing capability to transform both urban and rural geographies in distribution
  • Observe zero fatality across all entities
  • Achieving a multi-fold growth over baseline
  • Reaching a customer base in excess of 40 million and Transmission capacity in excess of 10,000 Ckm
Key Focus Areas

Operational and commercial efficiency improvement

Of Odisha Discoms at a faster pace

Operational efficiency

Enhancement through use of Total quality management (TQM)

Focus on innovation

To reduce capex requirement

Ensuring cost

Reflective tariffs across distribution business and amortisation of regulatory assets

Automation and digitalisation

Of processes and service delivery

Value added

Services to customers

Focused growth

In transmission business

Key Actions and Enablers

Exploring opportunities under PPP/delicensing to expand customer base

Developing product suite and exploring opportunities for smart metering and other solutions

Tariff-based competitive bidding and M&A opportunities for transmission projects

Exploring smart grid and energy management services

Distribution (Dist.) Business model Consumers
in mn.


Dist. Licence


Tata Power Delhi Distribution Limited

Dist. Licence


TP Central Odisha Distribution Limited

Dist. Licence


TP Southern Odisha Distribution Limited

Dist. Licence


TP Western Odisha Distribution Limited

Dist. Licence


TP Northern Odisha Distribution Limited

Dist. Licence


TP Ajmer Distribution Limited

Dist. Franchisee




Current T&D portfolio

Transmission Business model Ckm

Mumbai Transmission



Powerlinks (JV)



NRSS XXXVI Transmission (JV)

Bid based


South East UP Power Transmission (JV)

Bid based





>40 million

Customers base

> 10,000 Ckt km

Transmission capacity


We manage conventional and hydro power assets across North, West, and East India, with a combined capacity of over 10,000 MW. Our primary focus is on the safe and competitive operation of assets, delivering affordable and reliable electricity to customers, while adapting to the energy transition.

Key Focus Areas

Operational excellence

Achieving benchmark levels of operational efficiencies in parameters such as heat rate, auxiliary power consumption, and forced outage


Using digitalisation and analytics to enhance efficiency and reliability


Being ready for flexible operation to enable grid stability


Reducing environmental footprint

Key Actions and Enablers

Benchmarking sustainability performance by achieving carbon net zero, expanding clean and green capacity, implementing effective water and waste management, promoting flexibility, and adopting new technologies

Securing financial fitness by achieving long-term solution for Mundra, together with cost optimisation

Enhancing shareholder value through RoE improvement, operational excellence, and stakeholder engagement adherence

Ensuring compliance with MoEFCC mandates through the implementation of flue gas desulphurisation, nitrogen oxide (NOx) abatement projects, reduction in specific water consumption, afforestation, biodiversity initiatives, and ash utilisation

Enhancing people capabilities through targeted development plans and creating a future-ready workforce