Tata Power says project report on nuclear plant likely ready in 6 mos
This story was originally published at 18:48 IST on 12 May 2026
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--Tata Power: Will start work on 10 GW ingot, wafer facility in two phases
--CONTEXT: Tata Power mgmt's comments at post-earnings virtual press meet
--Tata Power: Expect FY27 to be better than FY26 as Mundra fully operational
--Tata Power: See INR 10 bln invest in hydro, pump-hydro, transmission lines
--Tata Power: Expect to become EBITDA positive in a year
--Tata Power: In talks with NPCIL, state govts to buy land for nuclear power
--Tata Power: Project report to set up nuclear plant to be ready in 6 months
--Tata Power: Identified 3 states for land-related work for nuclear plants
--Tata Power: No challenge on availability of coal; imported coal cost up 5%
--Tata Power: Making no investments other than in India, Bhutan
MUMBAI – Tata Power Co. Ltd. is in talks with the National Power Corp. of India Ltd. and several state governments for the purchase of land for setting up nuclear power plants. The company's detailed project report for setting up the first plant is expected to be ready in six months, Tata Power's management said Tuesday in a post-earnings media call.
Tata Power has identified three states for the land-related work for these nuclear plants. "These are small modular reactors for which we are having discussions with the NPCIL. We have identified three states where work is going on on the land. I think some more studies are being carried out and once all those geotechnical studies are completed, we'll be in a position to share more details," Chief Executive Officer and Managing Director Praveer Sinha said.
After 2025, India is gradually opening the nuclear power sector to private participation through component manufacturing, engineering, procurement, and construction contracts, as well as technology partnerships. This has been done through the Sustainable Harnessing of Advancement of Nuclear Energy for Transforming India Bill, 2025, which allows the private sector to participate in nuclear power generation, reactor supply, and operation, among other areas.
The company expects its performance in 2026-27 (Apr-Mar) to be better than FY26 as its 4,000-megawatt power plant in Mundra, Gujarat, is now fully operational. Tata Power plans to spend around INR 10 billion on hydro, pumped hydro, and transmission lines. It also plans to spend INR 5 billion in each of the distribution companies in Odisha, taking the total to around INR 20 billion.
Tata Power has implemented around 6.5 gigawatts of projects and is planning another 5 gigawatts in the next two years. Half of this will be completed in FY27 and the rest in FY28, Sinha said. The company will also start work on its 10-gigawatt facility for manufacturing ingots and wafers, which will be completed in two 5-gigawatt phases. "I think FY27 will be a much better year than FY26, considering that not only our existing businesses and new businesses will do well, but also the impact that we had in the last year of Mundra will not be there," Sinha said.
The company expects to become "EBITDA positive" and to start seeing returns in its electric vehicle charging vertical. Tata Power is currently making investments only in India and Bhutan. The company has not faced any "huge impact" due to the 5% rise in prices of coal and the availability of coal has also been normal.
The company reported a better-than-expected net profit of INR 9.96 billion for the March quarter, down nearly 5% on year. Its revenue from operations for the quarter fell nearly 13% on year to INR 149 billion, well below analysts' expectations of INR 164 billion. Tata Power announced its March quarter earnings after market hours.
On Tuesday, the company's shares ended 3.4% lower at INR 418.40 on the National Stock Exchange. Tata Power announced its March quarter earnings after market hours. End
Reported by Ashutosh Pati and Sunil Raghu
Edited by Saji George Titus
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