TATAPOWER
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India's Tata Power down 7% after quarterly profit fall
** Shares of India's Tata Power Company TTPW.NS fall as much as 6.55% to 391 rupees in pre-open trade, largest intraday pct drop since June 2024
** TTPW last down 4.7%
** Integrated power company's fourth-quarter profit fell by 4.5% y/y, rev fell by 13% y/y
** Goldman Sachs ("sell") says miss primarily driven by lower renewables generation, reduced plant efficiency and weaker contributions from JVs
** J.P. Morgan ("neutral") says losses from key Mundra plant shutdown largely offset by strong growth in rooftop solar; distribution businesses in Odisha and Delhi
** TTPW on avg rated "buy" by 24 analysts; median PT is 434.50 rupees - LSEG data
** TTPW up 2.1% YTD
(Reporting by Abhirami G in Bengaluru)
** Shares of India's Tata Power Company TTPW.NS fall as much as 6.55% to 391 rupees in pre-open trade, largest intraday pct drop since June 2024
** TTPW last down 4.7%
** Integrated power company's fourth-quarter profit fell by 4.5% y/y, rev fell by 13% y/y
** Goldman Sachs ("sell") says miss primarily driven by lower renewables generation, reduced plant efficiency and weaker contributions from JVs
** J.P. Morgan ("neutral") says losses from key Mundra plant shutdown largely offset by strong growth in rooftop solar; distribution businesses in Odisha and Delhi
** TTPW on avg rated "buy" by 24 analysts; median PT is 434.50 rupees - LSEG data
** TTPW up 2.1% YTD
(Reporting by Abhirami G in Bengaluru)
India's Tata Power steps up nuclear push with small reactors
By Sethuraman N R
NEW DELHI, May 12 (Reuters) - Tata Power TTPW.NS is stepping up work on its long‑term nuclear power plans, holding discussions with state‑run Nuclear Power Corporation of India Ltd (NPCIL) on small modular reactors, its chief executive said on Tuesday.
Here are more details:
Tata Power is looking at coming up with two 220-megawatt small modular reactors, Chief Executive Praveer Sinha said in a post-earnings media call.
Discussions with NPCIL are focused on technical and regulatory aspects.
The company has identified land in three Indian states and begun soil testing, geotechnical studies and other groundwork for project reports.
Tata Power is in discussion with Madhya Pradesh, Gujarat and Odisha on setting up small modular reactors.
Project reports could be ready in about six months, then Tata Power would seek regulatory approvals.
Small modular reactors could be placed in industrial zones for captive use as well as supplying power to the grid. They have no space constraints unlike large 700 MW reactors.
India aims to expand nuclear energy tenfold to 100 GW by 2047 as part of its 2070 net-zero ambitions, and drive greater private participation.
(Reporting by Sethuraman NR; Editing by Alexandra Hudson)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
By Sethuraman N R
NEW DELHI, May 12 (Reuters) - Tata Power TTPW.NS is stepping up work on its long‑term nuclear power plans, holding discussions with state‑run Nuclear Power Corporation of India Ltd (NPCIL) on small modular reactors, its chief executive said on Tuesday.
Here are more details:
Tata Power is looking at coming up with two 220-megawatt small modular reactors, Chief Executive Praveer Sinha said in a post-earnings media call.
Discussions with NPCIL are focused on technical and regulatory aspects.
The company has identified land in three Indian states and begun soil testing, geotechnical studies and other groundwork for project reports.
Tata Power is in discussion with Madhya Pradesh, Gujarat and Odisha on setting up small modular reactors.
Project reports could be ready in about six months, then Tata Power would seek regulatory approvals.
Small modular reactors could be placed in industrial zones for captive use as well as supplying power to the grid. They have no space constraints unlike large 700 MW reactors.
India aims to expand nuclear energy tenfold to 100 GW by 2047 as part of its 2070 net-zero ambitions, and drive greater private participation.
(Reporting by Sethuraman NR; Editing by Alexandra Hudson)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
EXCLUSIVE-India to shrink zones around nuclear reactors to free up land, sources say
Repeats to additional subscribers, no changes to text
India agrees to cut nuclear buffer zones to 500m for small reactors, 700m for large reactors
Land needs to drop sharply, allowing more capacity at existing sites
Move seeks to draw private investment after sector reforms
Decision risks backlash over radiation, safety concerns
By Sarita Chaganti Singh
NEW DELHI, May 11 (Reuters) - India plans to reduce the size of exclusion zones around nuclear plants to free up significant amounts of land for reactor expansions, three officials familiar with the matter said, in a move to attract private investment that is likely to face backlash from opposition parties and the public.
At present, all nuclear reactors in India have a minimum buffer of about 1 km (0.62 miles) around reactors where no habitation or economic activity is allowed, a provision meant to keep radiation risks at a distance.
India's atomic energy regulator and the Department of Atomic Energy have approved an "in principle" plan to reduce these buffers, the three officials said. They requested anonymity because they are not authorised to speak to the media.
The changes are likely to be included in final rules that are due to be published in the next couple of months after the country opened its nuclear generation sector to private and foreign players last year. India aims to expand nuclear capacity to 100 gigawatts by 2047 from about 8 gigawatts at present as part of its clean energy strategy.
The in-principle agreement between the Atomic Energy Regulatory Board and the Department of Atomic Energy to reduce the exclusion zones around nuclear plants to free up land for expansion as well as the size of the cuts have not been previously reported. The proposal was not part of a bill that was approved by parliament and it is expected to be set out in detailed rules that have yet to be released.
India's Department of Atomic Energy, its Atomic Energy Regulatory Board and the Prime Minister's Office did not respond to queries from Reuters.
The revisions to the buffer zones would cut the land needs by half for large reactors and by nearly two-thirds for small units, potentially allowing two to three times more capacity on the sites, according to an internal presentation reviewed by Reuters.
With smaller exclusion zones, a 10-reactor nuclear complex with 700 megawatts of capacity each could be set up within less than 700 hectares, the presentation showed. India's existing nuclear plants typically use around 1,000 hectares of land.
Small modular reactors could also be placed in industrial zones for captive use, two of the officials said. And cutting exclusion zones would also allow existing plants to add new reactors more easily using shared infrastructure, the presentation said.
The change is aimed at easing land constraints, a key hurdle, as the private sector - including Tata Power TTPW.NS, Adani Power ADAN.NS and Reliance Industries RELI.NS - looks to invest in the sector.
The three officials said the exclusion zones are being reduced because of safer reactor technologies, in line with global norms followed by countries like the U.S. and France that do not fix exclusion distances.
Strict siting rules - including distance from human settlements and safety risks - along with lengthy land acquisition processes, often exceeding four to five years, make identifying new sites difficult.
The decision on exclusion zones, however, risks a backlash in a country where nuclear power has faced public opposition despite no major accident record.
For much of the public, nuclear power in India is closely associated with radiation risks and the exclusion zones serve as a measurable assurance that risk is kept at a distance.
Some Indian lawmakers, while debating the opening of the nuclear sector in parliament in December, said the reforms prioritised private investment over safety and flagged risks including radiation and nuclear waste. Opposition leaders said the legal amendments risked weakening nuclear safety safeguards by diluting liability protections, easing reactor siting rules and expanding private participation without stronger independent oversight.
The bill was cleared by parliament despite the safety concerns raised by opposition lawmakers during the debate.
"The reduction is a meaningful shift that has been under discussion for nearly 18 months," said R. Srikanth, the engineering dean at the National Institute of Advanced Studies, a research institute. "Data from existing plants show that radiation levels around them are significantly lower than natural background levels in parts of coastal Kerala and Tamil Nadu."
"Unfortunately, good news of the Indian nuclear power has been kept hidden from the public," he said. "We need to overcome this all-pervasive sense of secrecy around civilian nuclear power plants."
(Reporting by Sarita Chaganti Singh; Editing by Thomas Derpinghaus)
Repeats to additional subscribers, no changes to text
India agrees to cut nuclear buffer zones to 500m for small reactors, 700m for large reactors
Land needs to drop sharply, allowing more capacity at existing sites
Move seeks to draw private investment after sector reforms
Decision risks backlash over radiation, safety concerns
By Sarita Chaganti Singh
NEW DELHI, May 11 (Reuters) - India plans to reduce the size of exclusion zones around nuclear plants to free up significant amounts of land for reactor expansions, three officials familiar with the matter said, in a move to attract private investment that is likely to face backlash from opposition parties and the public.
At present, all nuclear reactors in India have a minimum buffer of about 1 km (0.62 miles) around reactors where no habitation or economic activity is allowed, a provision meant to keep radiation risks at a distance.
India's atomic energy regulator and the Department of Atomic Energy have approved an "in principle" plan to reduce these buffers, the three officials said. They requested anonymity because they are not authorised to speak to the media.
The changes are likely to be included in final rules that are due to be published in the next couple of months after the country opened its nuclear generation sector to private and foreign players last year. India aims to expand nuclear capacity to 100 gigawatts by 2047 from about 8 gigawatts at present as part of its clean energy strategy.
The in-principle agreement between the Atomic Energy Regulatory Board and the Department of Atomic Energy to reduce the exclusion zones around nuclear plants to free up land for expansion as well as the size of the cuts have not been previously reported. The proposal was not part of a bill that was approved by parliament and it is expected to be set out in detailed rules that have yet to be released.
India's Department of Atomic Energy, its Atomic Energy Regulatory Board and the Prime Minister's Office did not respond to queries from Reuters.
The revisions to the buffer zones would cut the land needs by half for large reactors and by nearly two-thirds for small units, potentially allowing two to three times more capacity on the sites, according to an internal presentation reviewed by Reuters.
With smaller exclusion zones, a 10-reactor nuclear complex with 700 megawatts of capacity each could be set up within less than 700 hectares, the presentation showed. India's existing nuclear plants typically use around 1,000 hectares of land.
Small modular reactors could also be placed in industrial zones for captive use, two of the officials said. And cutting exclusion zones would also allow existing plants to add new reactors more easily using shared infrastructure, the presentation said.
The change is aimed at easing land constraints, a key hurdle, as the private sector - including Tata Power TTPW.NS, Adani Power ADAN.NS and Reliance Industries RELI.NS - looks to invest in the sector.
The three officials said the exclusion zones are being reduced because of safer reactor technologies, in line with global norms followed by countries like the U.S. and France that do not fix exclusion distances.
Strict siting rules - including distance from human settlements and safety risks - along with lengthy land acquisition processes, often exceeding four to five years, make identifying new sites difficult.
The decision on exclusion zones, however, risks a backlash in a country where nuclear power has faced public opposition despite no major accident record.
For much of the public, nuclear power in India is closely associated with radiation risks and the exclusion zones serve as a measurable assurance that risk is kept at a distance.
Some Indian lawmakers, while debating the opening of the nuclear sector in parliament in December, said the reforms prioritised private investment over safety and flagged risks including radiation and nuclear waste. Opposition leaders said the legal amendments risked weakening nuclear safety safeguards by diluting liability protections, easing reactor siting rules and expanding private participation without stronger independent oversight.
The bill was cleared by parliament despite the safety concerns raised by opposition lawmakers during the debate.
"The reduction is a meaningful shift that has been under discussion for nearly 18 months," said R. Srikanth, the engineering dean at the National Institute of Advanced Studies, a research institute. "Data from existing plants show that radiation levels around them are significantly lower than natural background levels in parts of coastal Kerala and Tamil Nadu."
"Unfortunately, good news of the Indian nuclear power has been kept hidden from the public," he said. "We need to overcome this all-pervasive sense of secrecy around civilian nuclear power plants."
(Reporting by Sarita Chaganti Singh; Editing by Thomas Derpinghaus)
Tata Power Company Ltd And DGPC To Jointly Develop 500 MW Solar PV Projects In Bhutan
May 8 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD- CO, BHUTAN’S DRUK GREEN POWER CORPORATION IDENTIFY 404 MW NYERA AMARI I II INTEGRATED HYDROPOWER PROJECT FOR COLLABORATION
TATA POWER COMPANY LTD- CO DGPC TO JOINTLY DEVELOP 500 MW SOLAR PV PROJECTS IN BHUTAN
Further company coverage: TTPW.NS
May 8 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD- CO, BHUTAN’S DRUK GREEN POWER CORPORATION IDENTIFY 404 MW NYERA AMARI I II INTEGRATED HYDROPOWER PROJECT FOR COLLABORATION
TATA POWER COMPANY LTD- CO DGPC TO JOINTLY DEVELOP 500 MW SOLAR PV PROJECTS IN BHUTAN
Further company coverage: TTPW.NS
Tata Power Company Says The Royal Government Of Bhutan, The World Bank Sign Financing Agreements For Dorjilung Hydroelectric Power Project
May 5 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY - THE ROYAL GOVERNMENT OF BHUTAN, THE WORLD BANK SIGN FINANCING AGREEMENTS FOR DORJILUNG HYDROELECTRIC POWER PROJECT
TATA POWER COMPANY - BHUTAN AND WORLD BANK SIGN $515 MILLION FINANCING FOR 1,125 MW DORJILUNG HYDROELECTRIC PROJECT
Further company coverage: TTPW.NS
May 5 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY - THE ROYAL GOVERNMENT OF BHUTAN, THE WORLD BANK SIGN FINANCING AGREEMENTS FOR DORJILUNG HYDROELECTRIC POWER PROJECT
TATA POWER COMPANY - BHUTAN AND WORLD BANK SIGN $515 MILLION FINANCING FOR 1,125 MW DORJILUNG HYDROELECTRIC PROJECT
Further company coverage: TTPW.NS
Tata Power Company Ltd Says Unit Has Approved Adoption Of A New Line Of Business - Photovoltaic Ingot And Wafer Manufacturing
April 30 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD- UNIT HAS APPROVED ADOPTION OF A NEW LINE OF BUSINESS - PHOTOVOLTAIC (PV) INGOT AND WAFER MANUFACTURING
TATA POWER COMPANY LTD - ESTIMATED AMOUNT TO BE INVESTED 65 BILLION RUPEES
Further company coverage: TTPW.NS
April 30 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD- UNIT HAS APPROVED ADOPTION OF A NEW LINE OF BUSINESS - PHOTOVOLTAIC (PV) INGOT AND WAFER MANUFACTURING
TATA POWER COMPANY LTD - ESTIMATED AMOUNT TO BE INVESTED 65 BILLION RUPEES
Further company coverage: TTPW.NS
Tata Power Company Incorporates Wholly-Owned Subsidiary TP Urja Limited
April 23 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - INCORPORATES WHOLLY-OWNED SUBSIDIARY TP URJA LIMITED
Source text: ID:nBSE2PsThN
Further company coverage: TTPW.NS
April 23 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - INCORPORATES WHOLLY-OWNED SUBSIDIARY TP URJA LIMITED
Source text: ID:nBSE2PsThN
Further company coverage: TTPW.NS
TCS Says See Collaboration With Tata Power, Tata Communications To Scale Data Centre Business
April 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS EXEC: SHIFT FROM EXPERIMENTATION TO SCALED AI DEPLOYMENT SHOWED MARKED IMPROVEMENT IN FY26
TCS EXEC: SEE COLLABORATION WITH TATA POWER, TATA COMMUNICATIONS TO SCALE DATA CENTRE BUSINESS
Source text: [ID:]
Further company coverage: TCS.NS
April 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:
TCS EXEC: SHIFT FROM EXPERIMENTATION TO SCALED AI DEPLOYMENT SHOWED MARKED IMPROVEMENT IN FY26
TCS EXEC: SEE COLLABORATION WITH TATA POWER, TATA COMMUNICATIONS TO SCALE DATA CENTRE BUSINESS
Source text: [ID:]
Further company coverage: TCS.NS
Tata Power Company Says Resumed Operations At Mundra Plant With Installed Capacity Of 4150 MW
April 1 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - RESUMED ITS OPERATIONS AT MUNDRA PLANT WITH AN INSTALLED CAPACITY OF 4150 MW
Source text: ID:nnAZN4SOJPC
Further company coverage: TTPW.NS
April 1 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - RESUMED ITS OPERATIONS AT MUNDRA PLANT WITH AN INSTALLED CAPACITY OF 4150 MW
Source text: ID:nnAZN4SOJPC
Further company coverage: TTPW.NS
India boosts renewable push amid gas supply disruptions, minister says
By Sethuraman N R
NEW DELHI, March 30 (Reuters) - India is accelerating clearances for commissioning of wind power plants and battery energy storage systems as the U.S.-Israeli war against Iran has led to a gas shortfall, the country's junior power minister said on Monday.
Although gas accounts for only around 2% of India's total power generation, the South Asian country uses about 8 gigawatt (GW) of gas power during peak-demand periods or heatwaves.
"Presently, there are challenges in respect of availability and price volatility of natural gas due to the Middle East crisis. However, the generators are exploring alternate sources," junior power minister Shripad Naik said in the country's parliament.
The country is also closely monitoring the progress of coal and hydro plants, which are under construction, targeted to be commissioned by June 2026, he said.
The system is adequately positioned to meet summer demand, compensating for reduced gas-based generation, Naik said.
The South Asian nation has already directed Tata Power's TTPW.NS 4-gigawatt imported-coal plant in the western state of Gujarat to run at full capacity from April 1 to June 30.
Reuters had earlier reported that India will likely lean more on its coal capacity to meet peak power demand this summer and has asked its coal plants to run at maximum capacity and avoid planned outages.
India relies on coal power for nearly 75% of its power generation.
India has also encouraged its industries to produce their own power through their captive generation plants, the minister said, a move that could reduce industrial power consumption.
(Reporting by Sethuraman NR
Editing by Keith Weir)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
By Sethuraman N R
NEW DELHI, March 30 (Reuters) - India is accelerating clearances for commissioning of wind power plants and battery energy storage systems as the U.S.-Israeli war against Iran has led to a gas shortfall, the country's junior power minister said on Monday.
Although gas accounts for only around 2% of India's total power generation, the South Asian country uses about 8 gigawatt (GW) of gas power during peak-demand periods or heatwaves.
"Presently, there are challenges in respect of availability and price volatility of natural gas due to the Middle East crisis. However, the generators are exploring alternate sources," junior power minister Shripad Naik said in the country's parliament.
The country is also closely monitoring the progress of coal and hydro plants, which are under construction, targeted to be commissioned by June 2026, he said.
The system is adequately positioned to meet summer demand, compensating for reduced gas-based generation, Naik said.
The South Asian nation has already directed Tata Power's TTPW.NS 4-gigawatt imported-coal plant in the western state of Gujarat to run at full capacity from April 1 to June 30.
Reuters had earlier reported that India will likely lean more on its coal capacity to meet peak power demand this summer and has asked its coal plants to run at maximum capacity and avoid planned outages.
India relies on coal power for nearly 75% of its power generation.
India has also encouraged its industries to produce their own power through their captive generation plants, the minister said, a move that could reduce industrial power consumption.
(Reporting by Sethuraman NR
Editing by Keith Weir)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net/))
Tata Power Company Completes All Extra High Voltage Transmission Lines Under SEUPPTCL
March 25 (Reuters) - Tata Power Company Ltd TTPW.NS:
COMPLETES ALL EXTRA HIGH VOLTAGE TRANSMISSION LINES UNDER SEUPPTCL
Further company coverage: TTPW.NS
March 25 (Reuters) - Tata Power Company Ltd TTPW.NS:
COMPLETES ALL EXTRA HIGH VOLTAGE TRANSMISSION LINES UNDER SEUPPTCL
Further company coverage: TTPW.NS
India File: War and a searing summer test coal readiness
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 24 - By Nidhi C Sai, Editor Online Production, with global Reuters staff
India is bracing for a torrid summer just as the Middle East conflict upends global fuel flows, forcing New Delhi to try every trick in the book to meet peak demand for electricity. That includes accelerating coal power generation, bringing wind power projects to the grid, and speeding up completion of battery energy storage projects.
But with coal producing as much as 75% of its electricity, how India manages the resource will largely determine whether blackouts will be the norm or the exception over the next few months. After cooking gas, will a paucity of power be the next big disrupting factor in the lives of millions of Indians? That’s our focus this week.
And, India's proposal to preload national ID app Aadhaar on smartphones faces pushback. Scroll down for more on that.
THIS WEEK IN ASIA
Japan's core inflation slows below BOJ target, complicates rate communication
China pledges more balanced trade and further opening of the economy after record surplus
Kim Jong Un says North Korea’s nuclear status is irreversible, threatens South
Australia, EU seal long-awaited trade deal amid global trade tensions
Vietnam Communist Party meets, with new state leaders set to be nominated
LOVE AFFAIR WITH COAL REKINDLED
A hotter-than-normal summer beckons, with the Indian meteorological service predicting an above-average number of heatwave days in April-June this year. Power demand is expected to touch a record 270 gigawatts during the season, government estimates show.
While the summer months would even otherwise stretch the country’s power system during peak demand, what has made the situation acute this year is the Middle East conflict, which has squeezed gas supplies. While gas accounts for only around 2% of its total power generation, India uses about 8 GW of gas power during peak-demand periods or heat waves.
That has sent New Delhi and states scrambling to shore up coal-fired power, which the South Asian nation is trying to reduce over the longer term as it meets its decarbonisation commitments.
The western state of Gujarat set the ball rolling by approving last week a revised power supply pact with Tata Power TTPW.NS and clearing the way for the company to resume long-term supply from its 4 GW Mundra power plant. Built to run on imported coal, the plant has sat idle for months as government compensation rules expired.
The central government has now mandated the Mundra power plant to run at full capacity from April 1 to June 30 and could extend the directive to other plants running on imported coal depending on the demand.
India is the world's second-largest producer and consumer of coal. It has 210 million tons of coal stock, enough for 88 days of consumption, and the government has instructed coal-based utilities to avoid outages, bring units back from maintenance and be ready to run flat-out.
Prime Minister Narendra Modi said on Monday that India has adequate coal supplies to meet rising electricity demand despite energy disruptions triggered by the Middle East conflict.
Gas is the weak link. India has invoked emergency clauses to divert scarce gas to households and fertiliser plants.
Read our last India File edition which looks at the struggle by households and businesses to adapt to the cooking gas supply crunch.
Gas supplies from Qatar and Abu Dhabi have been hit by the U.S.-Israeli war on Iran, forcing suppliers to declare force majeure and freezing India's summer liquefied natural gas (LNG) tenders. And top utility NTPC NTPC.NS says it cannot offer gas-fired generation during April-June.
The Middle East conflict has forced Asian utilities from Bangladesh to Japan to switch back to coal as LNG prices double and shipments through the Strait of Hormuz stall.
OPTIMISM ON BATTERY POWER
Longer term, India's National Generation Adequacy Plan forecasts a quadrupling of solar and tripling of wind by 2035-36, pushing non-fossil capacity to 786 GW and reducing coal’s share of generation to below 50%.
That transition assumes sharp growth in storage, with pumped hydro expected to surge 13-fold and battery storage to hit 80 GW by 2035-36 from 0.27 GW currently.
The growth potential is already drawing heavyweight interest. Tesla TSLA.O has begun recruiting for its India energy-storage business, joining the Reliance and Adani groups in building utility-scale storage.
The government is also working on speeding up completion of battery energy-storage projects to meet demand in summer evenings, when solar generation fades but cooling demand from households remains high.
"About 2.5 gigawatt hours of battery storage is already under commissioning, and we hope that gets commissioned very fast," Power Secretary Pankaj Agarwal told Reuters.
India’s all-fuels-on-deck mobilisation - coal at maximum output, renewables eased into the grid, and storage accelerated - is its first stress test of what a power system looks like when hit by the double whammy of climate and geopolitical volatility.
What does a truly secure power system look like for India? Write to me at nidhi.csai@thomsonreuters.com
MARKET MATTERS
Foreign selling in Indian equities surged in early March, with financial stocks leading the heaviest fortnightly outflows in 17 months and dragging the Nifty 50 .NSEI to its worst two-week stretch since the COVID-19 market rout of March 2020.
Read this report by Reuters journalist Bharath Rajeswaran.
THIS WEEK'S MUST READ
India’s government privately proposed that smartphone makers such as Apple AAPL.O, Samsung 005930.KS and Google consider pre-installing the Aadhaar identification app on devices to expand access, but the move faced strong pushback from industry groups citing security, cost and production concerns.
Companies argued mandatory preloads would require separate manufacturing lines and offer limited public benefit, highlighting growing tensions between New Delhi and tech firms over government-backed apps on smartphones.
Read this exclusive report by Reuters journalists Aditya Kalra and Munsif Vengattil.
India's Nifty 50 posts steepest fortnightly decline in six years in first half of March 2026 https://reut.rs/47CeYF2
(Reporting by Nidhi C Sai; Editing by Muralikumar Anantharaman)
((Nidhi.CSai@thomsonreuters.com; +91 70456 55251))
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 24 - By Nidhi C Sai, Editor Online Production, with global Reuters staff
India is bracing for a torrid summer just as the Middle East conflict upends global fuel flows, forcing New Delhi to try every trick in the book to meet peak demand for electricity. That includes accelerating coal power generation, bringing wind power projects to the grid, and speeding up completion of battery energy storage projects.
But with coal producing as much as 75% of its electricity, how India manages the resource will largely determine whether blackouts will be the norm or the exception over the next few months. After cooking gas, will a paucity of power be the next big disrupting factor in the lives of millions of Indians? That’s our focus this week.
And, India's proposal to preload national ID app Aadhaar on smartphones faces pushback. Scroll down for more on that.
THIS WEEK IN ASIA
Japan's core inflation slows below BOJ target, complicates rate communication
China pledges more balanced trade and further opening of the economy after record surplus
Kim Jong Un says North Korea’s nuclear status is irreversible, threatens South
Australia, EU seal long-awaited trade deal amid global trade tensions
Vietnam Communist Party meets, with new state leaders set to be nominated
LOVE AFFAIR WITH COAL REKINDLED
A hotter-than-normal summer beckons, with the Indian meteorological service predicting an above-average number of heatwave days in April-June this year. Power demand is expected to touch a record 270 gigawatts during the season, government estimates show.
While the summer months would even otherwise stretch the country’s power system during peak demand, what has made the situation acute this year is the Middle East conflict, which has squeezed gas supplies. While gas accounts for only around 2% of its total power generation, India uses about 8 GW of gas power during peak-demand periods or heat waves.
That has sent New Delhi and states scrambling to shore up coal-fired power, which the South Asian nation is trying to reduce over the longer term as it meets its decarbonisation commitments.
The western state of Gujarat set the ball rolling by approving last week a revised power supply pact with Tata Power TTPW.NS and clearing the way for the company to resume long-term supply from its 4 GW Mundra power plant. Built to run on imported coal, the plant has sat idle for months as government compensation rules expired.
The central government has now mandated the Mundra power plant to run at full capacity from April 1 to June 30 and could extend the directive to other plants running on imported coal depending on the demand.
India is the world's second-largest producer and consumer of coal. It has 210 million tons of coal stock, enough for 88 days of consumption, and the government has instructed coal-based utilities to avoid outages, bring units back from maintenance and be ready to run flat-out.
Prime Minister Narendra Modi said on Monday that India has adequate coal supplies to meet rising electricity demand despite energy disruptions triggered by the Middle East conflict.
Gas is the weak link. India has invoked emergency clauses to divert scarce gas to households and fertiliser plants.
Read our last India File edition which looks at the struggle by households and businesses to adapt to the cooking gas supply crunch.
Gas supplies from Qatar and Abu Dhabi have been hit by the U.S.-Israeli war on Iran, forcing suppliers to declare force majeure and freezing India's summer liquefied natural gas (LNG) tenders. And top utility NTPC NTPC.NS says it cannot offer gas-fired generation during April-June.
The Middle East conflict has forced Asian utilities from Bangladesh to Japan to switch back to coal as LNG prices double and shipments through the Strait of Hormuz stall.
OPTIMISM ON BATTERY POWER
Longer term, India's National Generation Adequacy Plan forecasts a quadrupling of solar and tripling of wind by 2035-36, pushing non-fossil capacity to 786 GW and reducing coal’s share of generation to below 50%.
That transition assumes sharp growth in storage, with pumped hydro expected to surge 13-fold and battery storage to hit 80 GW by 2035-36 from 0.27 GW currently.
The growth potential is already drawing heavyweight interest. Tesla TSLA.O has begun recruiting for its India energy-storage business, joining the Reliance and Adani groups in building utility-scale storage.
The government is also working on speeding up completion of battery energy-storage projects to meet demand in summer evenings, when solar generation fades but cooling demand from households remains high.
"About 2.5 gigawatt hours of battery storage is already under commissioning, and we hope that gets commissioned very fast," Power Secretary Pankaj Agarwal told Reuters.
India’s all-fuels-on-deck mobilisation - coal at maximum output, renewables eased into the grid, and storage accelerated - is its first stress test of what a power system looks like when hit by the double whammy of climate and geopolitical volatility.
What does a truly secure power system look like for India? Write to me at nidhi.csai@thomsonreuters.com
MARKET MATTERS
Foreign selling in Indian equities surged in early March, with financial stocks leading the heaviest fortnightly outflows in 17 months and dragging the Nifty 50 .NSEI to its worst two-week stretch since the COVID-19 market rout of March 2020.
Read this report by Reuters journalist Bharath Rajeswaran.
THIS WEEK'S MUST READ
India’s government privately proposed that smartphone makers such as Apple AAPL.O, Samsung 005930.KS and Google consider pre-installing the Aadhaar identification app on devices to expand access, but the move faced strong pushback from industry groups citing security, cost and production concerns.
Companies argued mandatory preloads would require separate manufacturing lines and offer limited public benefit, highlighting growing tensions between New Delhi and tech firms over government-backed apps on smartphones.
Read this exclusive report by Reuters journalists Aditya Kalra and Munsif Vengattil.
India's Nifty 50 posts steepest fortnightly decline in six years in first half of March 2026 https://reut.rs/47CeYF2
(Reporting by Nidhi C Sai; Editing by Muralikumar Anantharaman)
((Nidhi.CSai@thomsonreuters.com; +91 70456 55251))
India Mandates Tata Power's Imported Coal Based Power Plant In Gujarat To Run At Full Capacity - Government Order
March 23 (Reuters) -
INDIA MANDATES TATA POWER'S IMPORTED COAL BASED POWER PLANT IN GUJARAT TO RUN AT FULL CAPACITY FROM APRIL-JUNE - GOVERNMENT ORDER
March 23 (Reuters) -
INDIA MANDATES TATA POWER'S IMPORTED COAL BASED POWER PLANT IN GUJARAT TO RUN AT FULL CAPACITY FROM APRIL-JUNE - GOVERNMENT ORDER
Tata Power jumps as Indian state clears new deal to resume long‑term supply
** Shares of Tata Power TTPW.NS rise as much as 5% to 418.45 rupees
** TTPW rises the most since May 2025
** India's Gujarat state approved a revised power supply pact with TTPW, per govt document seen by Reuters
** Pact paves way for clearing long‑term electricity supply to resume from its 4 gigawatt imported coal-fired Mundra plant
** The plant in has not operated for the past six months after govt last year withdrew the emergency clause that compensates for generating power using expensive imported coal
** The deal needs approval from the federal power regulator and would take effect retrospectively from April 2025.
** Tata Power and the Gujarat government did not immediately respond to emails seeking comments
** Analysts have a "buy" rating on avg; median PT is 388 rupees - data compiled by LSEG
** YTD, TTPW up ~10%
(Reporting by Urvi Dugar in Bengaluru)
** Shares of Tata Power TTPW.NS rise as much as 5% to 418.45 rupees
** TTPW rises the most since May 2025
** India's Gujarat state approved a revised power supply pact with TTPW, per govt document seen by Reuters
** Pact paves way for clearing long‑term electricity supply to resume from its 4 gigawatt imported coal-fired Mundra plant
** The plant in has not operated for the past six months after govt last year withdrew the emergency clause that compensates for generating power using expensive imported coal
** The deal needs approval from the federal power regulator and would take effect retrospectively from April 2025.
** Tata Power and the Gujarat government did not immediately respond to emails seeking comments
** Analysts have a "buy" rating on avg; median PT is 388 rupees - data compiled by LSEG
** YTD, TTPW up ~10%
(Reporting by Urvi Dugar in Bengaluru)
India weighs rule to maximise output at imported-coal plants, sources say
By Sethuraman N R
NEW DELHI, March 19 (Reuters) - India is weighing the use of an emergency clause that would force coal power plants that run on imported coal to maximise output ahead of the summer season, as the U.S.-Israeli war on Iran has hit gas supplies, three industry sources said.
The country expects peak power demand to touch 270 gigawatts during the summer, India's federal power minister Manohar Lal Khattar said at an industry event on Thursday.
The power ministry did not immediately respond to Reuters' request for comments.
India has power plants built to run on imported coal that could generate nearly 17 gigawatts, located in the coastal areas of the country.
It is expensive to generate power using imported coal compared with cheaper domestic coal. Under the emergency provision, a government‑appointed panel will set the rate at which power will be purchased from the plants, based on the cost of the imported coal.
Tata Power's TTPW.NS 4 GW imported coal-fired plant in Mundra, Gujarat, has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using expensive imported coal.
Reuters reported early this month that India will likely lean more on its coal capacity to meet peak power demand this summer as LNG supplies tighten due to the Mideast crisis.
The gas crisis and the absence of 4 GW of coal capacity from Tata Power's coal plant have led the government to explore the option to run all coal plants including the imported coal plants at maximum capacity, the sources said.
Meanwhile, India has invoked emergency provisions, reprioritising natural gas supplies to key sectors such as households and fertiliser plants, leaving gas-based power plants with fewer options.
The gas-based power plants, which are generally idle, are used when the country sees sudden surge in power demand.
The power ministry did not immediately respond to Reuters' request for comments.
(Reporting by Sethuraman NR
Editing by Alexandra Hudson)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
By Sethuraman N R
NEW DELHI, March 19 (Reuters) - India is weighing the use of an emergency clause that would force coal power plants that run on imported coal to maximise output ahead of the summer season, as the U.S.-Israeli war on Iran has hit gas supplies, three industry sources said.
The country expects peak power demand to touch 270 gigawatts during the summer, India's federal power minister Manohar Lal Khattar said at an industry event on Thursday.
The power ministry did not immediately respond to Reuters' request for comments.
India has power plants built to run on imported coal that could generate nearly 17 gigawatts, located in the coastal areas of the country.
It is expensive to generate power using imported coal compared with cheaper domestic coal. Under the emergency provision, a government‑appointed panel will set the rate at which power will be purchased from the plants, based on the cost of the imported coal.
Tata Power's TTPW.NS 4 GW imported coal-fired plant in Mundra, Gujarat, has not operated for the past six months after the government last year withdrew the emergency clause that compensates companies for generating power using expensive imported coal.
Reuters reported early this month that India will likely lean more on its coal capacity to meet peak power demand this summer as LNG supplies tighten due to the Mideast crisis.
The gas crisis and the absence of 4 GW of coal capacity from Tata Power's coal plant have led the government to explore the option to run all coal plants including the imported coal plants at maximum capacity, the sources said.
Meanwhile, India has invoked emergency provisions, reprioritising natural gas supplies to key sectors such as households and fertiliser plants, leaving gas-based power plants with fewer options.
The gas-based power plants, which are generally idle, are used when the country sees sudden surge in power demand.
The power ministry did not immediately respond to Reuters' request for comments.
(Reporting by Sethuraman NR
Editing by Alexandra Hudson)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
India to mandate locally made solar ingots, wafers for clean energy projects from June 2028
NEW DELHI, March 18 (Reuters) - India is proposing that clean energy firms use only locally made solar ingots and wafers from June 2028, the country's renewable energy ministry said on Wednesday, in a move aimed at curbing Chinese imports.
With this, the South Asian country is looking to ensure the usage of domestically made components across the entire solar panel manufacturing chain.
India currently has a manufacturing capacity of about 2 gigawatt (GW) for ingots and wafers.
Companies including Waaree Energies WAAN.NS, Tata Power TTPW.NS and Indosol Solar IDOS.NS have proposed billions of rupees of investments to build renewable manufacturing capacity as India aims to double its non-fossil fuel-based power capacity to 500 GW by 2030.
The government has already mandated the usage of locally assembled solar panels in state-run projects even though components like cells, wafers, ingots and polysilicon could be imported.
India currently relies entirely on China for its imports of cells, ingots, wafers and poly silicon for solar panels.
The country has also directed the use of domestically made solar cells from June 2026.
(Reporting by Sethuraman NR; Editing by Sonia Cheema)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
NEW DELHI, March 18 (Reuters) - India is proposing that clean energy firms use only locally made solar ingots and wafers from June 2028, the country's renewable energy ministry said on Wednesday, in a move aimed at curbing Chinese imports.
With this, the South Asian country is looking to ensure the usage of domestically made components across the entire solar panel manufacturing chain.
India currently has a manufacturing capacity of about 2 gigawatt (GW) for ingots and wafers.
Companies including Waaree Energies WAAN.NS, Tata Power TTPW.NS and Indosol Solar IDOS.NS have proposed billions of rupees of investments to build renewable manufacturing capacity as India aims to double its non-fossil fuel-based power capacity to 500 GW by 2030.
The government has already mandated the usage of locally assembled solar panels in state-run projects even though components like cells, wafers, ingots and polysilicon could be imported.
India currently relies entirely on China for its imports of cells, ingots, wafers and poly silicon for solar panels.
The country has also directed the use of domestically made solar cells from June 2026.
(Reporting by Sethuraman NR; Editing by Sonia Cheema)
((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
Andritz wins Tata Power order for 1,000-MW Bhivpuri pumped-storage project in India
Andritz received an order from Tata Power to supply pump storage generating sets for the planned 1,000 MW Bhivpuri pumped storage project in Maharashtra, India. The order value was stated as being in the low hundreds of millions of EUR and is expected to be included in Andritz’s order intake for Q1 2026. The scope includes three reversible pump turbines, motor-generators, and related electromechanical equipment, covering design, manufacturing, installation, testing, and commissioning.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Andritz AG published the original content used to generate this news brief on March 17, 2026, and is solely responsible for the information contained therein.
Andritz received an order from Tata Power to supply pump storage generating sets for the planned 1,000 MW Bhivpuri pumped storage project in Maharashtra, India. The order value was stated as being in the low hundreds of millions of EUR and is expected to be included in Andritz’s order intake for Q1 2026. The scope includes three reversible pump turbines, motor-generators, and related electromechanical equipment, covering design, manufacturing, installation, testing, and commissioning.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Andritz AG published the original content used to generate this news brief on March 17, 2026, and is solely responsible for the information contained therein.
Tata Power Company Invests 500 Million Rupees For 40% Stake In Dorjilung Hydro Power
March 9 (Reuters) - Tata Power Company Ltd TTPW.NS:
INVESTS 500 MILLION RUPEES FOR 40% STAKE IN DORJILUNG HYDRO POWER
Source text: ID:nNSE163bfb
Further company coverage: TTPW.NS
March 9 (Reuters) - Tata Power Company Ltd TTPW.NS:
INVESTS 500 MILLION RUPEES FOR 40% STAKE IN DORJILUNG HYDRO POWER
Source text: ID:nNSE163bfb
Further company coverage: TTPW.NS
Tata Power Company Collaborates With Salesforce
March 6 (Reuters) - Salesforce Inc CRM.N:
COLLABORATES WITH SALESFORCE
COLLABORATION FOR NATIONWIDE ROOFTOP SOLAR, EV CHARGING, AND INTELLIGENT ENERGY MANAGEMENT BUSINESSES
Source text: ID:nnAZN4SJYTJ
Further company coverage: CRM.N
March 6 (Reuters) - Salesforce Inc CRM.N:
COLLABORATES WITH SALESFORCE
COLLABORATION FOR NATIONWIDE ROOFTOP SOLAR, EV CHARGING, AND INTELLIGENT ENERGY MANAGEMENT BUSINESSES
Source text: ID:nnAZN4SJYTJ
Further company coverage: CRM.N
ANALYSIS-'Made in EU' auto rules risk backlash from friends and rivals
Brussels to propose Industrial Accelerator Act on Wednesday
EU automakers face local content rules to qualify for support
Some fear disruption to supply chains, trade wars
By Nick Carey, Gilles Guillaume and Julia Payne
LONDON/PARIS/BRUSSELS, March 3 (Reuters) - The European Union is treading a fine line with plans to introduce 'Made in EU' rules for the bloc's auto industry, seeking to revive local manufacturing without damaging relations with major trading partners.
The plans, due on Wednesday as part of a drive to boost EU industry more broadly, are complicated by divisions between member states, with France taking a more protectionist line and Germany more worried about potential retaliation.
They also face pushback from automakers that rely on non-EU supplies or, like Ford F.N and Jaguar Land Rover TAMO.NS, have major operations in nearby non-EU countries that are also lobbying Brussels. Britain, Turkey and Morocco are interested in 'Made in Europe' rules - but only if they are not shut out.
The stakes are high.
"If we don't do this, there will be massive relocations," Christophe Perillat, the CEO of French auto supplier Valeo said on Friday. "I've never seen an industry go and come back."
RETALIATION FEARS
Under the latest leaked version of the proposed Industrial Accelerator Act, an electric vehicle would need 70% of the cost of its parts to be manufactured in the bloc, excluding the battery, to qualify for EU subsidies.
The draft also requires minimum EU-based content in the battery pack, although excluding cells acknowledges China's dominance of the global battery cell supply chain.
Europe's auto sector has long been under pressure, a squeeze intensified by the arrival of Chinese rivals rolling out cheaper, tech-heavy EVs.
French small suppliers association Fiev says its members shed half their workforce between 2007 and 2024, and president Jean-Louis Pech warns employment could halve again by the end of the decade without action.
Antoine Doutriaux, CEO of Plastivaloire, which makes plastic interior parts and closed a French plant last year, says not mandating local content "would be very dangerous for European industry". He says Chinese rivals pay 30% less for raw materials and "don't play by the same rules".
But Germany's automakers sell more than a quarter of their vehicles in China, the world's largest auto market, and fear strict local-content rules could trigger a trade war.
"Further measures perceived as protectionist, which may include local content requirements, carry the risk of backlash from other countries," said Karoline Kampermann, head of economic policy, foreign trade, SMEs and taxation at German car lobby group VDA.
China rejects suggestions its automakers benefit from unfair subsidies and has retaliated against other EU measures it considers protectionist, such as EU import tariffs on Chinese-made EVs.
'WALKING ON EGGSHELLS'
Global auto supply chains are so complex, and so integrated, that determining local-content levels in individual models is no easy feat.
French firm A2MAC1, which strips down cars for automakers to assess competitors' products, reviewed two European-made EVs for Reuters – Volkswagen's VOWG_p.DE ID.3 and Renault's RENA.PA Renault 5 – based on cost of parts by country.
It found the ID.3 sourced 86% of its content by value from the EU and just 7% from China, not including raw materials. It easily qualifies as made in the EU.
Renault says up to 80% of suppliers for the Renault 5 are within 300 km (186 miles) of its northern France assembly site. But A2MAC1 found EU-based parts accounted for only 51% of the car's cost, with China supplying 41%. Excluding the battery – the component most dependent on China – lifts EU content to about 76%. On that basis the Renault 5 would meet the threshold.
A further challenge is that, under the Commission's proposal, only parts from EU members plus Iceland, Liechtenstein and Norway - the European Economic Area - would count as local content, though it would consider parts from "trusted partners" and take World Trade Organization agreements into account.
Ford's European supply chain, for example, depends heavily on Britain and Turkey, and European president Jim Baumbick argues that "excluding them would weaken production inside the EU itself".
Turkey is a low-cost manufacturing hub for Toyota 7203.T, Stellantis STLAM.MI, Hyundai 005380.KS and Renault. Cengiz Eroldu, president of Turkish automaker association OSD, says exclusion "poses a great risk to our country's investment environment" and that inclusion "is a strategic necessity".
But including Turkey could open a loophole for Chinese automakers to build plants there, saving on energy and labour while still qualifying for EU subsidies, said Chris Heron, secretary general of lobby group E-Mobility.
"It really is like walking on eggshells," he said.
Electric vehicle cost share by country (including batteries) https://www.reuters.com/graphics/AUTOS-EUROPE/MADEINEUROPE/akpeyzxlqpr/chart.png
Electric vehicle cost share by country (excluding batteries) https://www.reuters.com/graphics/AUTOS-EUROPE/MADEINEUROPE/lbpgynzxbpq/chart.png
(Reporting By Nick Carey in London, Gilles Guillaume in Paris and Julia Payne in Brussels. Additional reporting by Christoph Steitz in Frankfurt and Can Sezer in Istanbul. Editing by Mark Potter)
((nick.carey@thomsonreuters.com; +44 7385 414 954;))
Brussels to propose Industrial Accelerator Act on Wednesday
EU automakers face local content rules to qualify for support
Some fear disruption to supply chains, trade wars
By Nick Carey, Gilles Guillaume and Julia Payne
LONDON/PARIS/BRUSSELS, March 3 (Reuters) - The European Union is treading a fine line with plans to introduce 'Made in EU' rules for the bloc's auto industry, seeking to revive local manufacturing without damaging relations with major trading partners.
The plans, due on Wednesday as part of a drive to boost EU industry more broadly, are complicated by divisions between member states, with France taking a more protectionist line and Germany more worried about potential retaliation.
They also face pushback from automakers that rely on non-EU supplies or, like Ford F.N and Jaguar Land Rover TAMO.NS, have major operations in nearby non-EU countries that are also lobbying Brussels. Britain, Turkey and Morocco are interested in 'Made in Europe' rules - but only if they are not shut out.
The stakes are high.
"If we don't do this, there will be massive relocations," Christophe Perillat, the CEO of French auto supplier Valeo said on Friday. "I've never seen an industry go and come back."
RETALIATION FEARS
Under the latest leaked version of the proposed Industrial Accelerator Act, an electric vehicle would need 70% of the cost of its parts to be manufactured in the bloc, excluding the battery, to qualify for EU subsidies.
The draft also requires minimum EU-based content in the battery pack, although excluding cells acknowledges China's dominance of the global battery cell supply chain.
Europe's auto sector has long been under pressure, a squeeze intensified by the arrival of Chinese rivals rolling out cheaper, tech-heavy EVs.
French small suppliers association Fiev says its members shed half their workforce between 2007 and 2024, and president Jean-Louis Pech warns employment could halve again by the end of the decade without action.
Antoine Doutriaux, CEO of Plastivaloire, which makes plastic interior parts and closed a French plant last year, says not mandating local content "would be very dangerous for European industry". He says Chinese rivals pay 30% less for raw materials and "don't play by the same rules".
But Germany's automakers sell more than a quarter of their vehicles in China, the world's largest auto market, and fear strict local-content rules could trigger a trade war.
"Further measures perceived as protectionist, which may include local content requirements, carry the risk of backlash from other countries," said Karoline Kampermann, head of economic policy, foreign trade, SMEs and taxation at German car lobby group VDA.
China rejects suggestions its automakers benefit from unfair subsidies and has retaliated against other EU measures it considers protectionist, such as EU import tariffs on Chinese-made EVs.
'WALKING ON EGGSHELLS'
Global auto supply chains are so complex, and so integrated, that determining local-content levels in individual models is no easy feat.
French firm A2MAC1, which strips down cars for automakers to assess competitors' products, reviewed two European-made EVs for Reuters – Volkswagen's VOWG_p.DE ID.3 and Renault's RENA.PA Renault 5 – based on cost of parts by country.
It found the ID.3 sourced 86% of its content by value from the EU and just 7% from China, not including raw materials. It easily qualifies as made in the EU.
Renault says up to 80% of suppliers for the Renault 5 are within 300 km (186 miles) of its northern France assembly site. But A2MAC1 found EU-based parts accounted for only 51% of the car's cost, with China supplying 41%. Excluding the battery – the component most dependent on China – lifts EU content to about 76%. On that basis the Renault 5 would meet the threshold.
A further challenge is that, under the Commission's proposal, only parts from EU members plus Iceland, Liechtenstein and Norway - the European Economic Area - would count as local content, though it would consider parts from "trusted partners" and take World Trade Organization agreements into account.
Ford's European supply chain, for example, depends heavily on Britain and Turkey, and European president Jim Baumbick argues that "excluding them would weaken production inside the EU itself".
Turkey is a low-cost manufacturing hub for Toyota 7203.T, Stellantis STLAM.MI, Hyundai 005380.KS and Renault. Cengiz Eroldu, president of Turkish automaker association OSD, says exclusion "poses a great risk to our country's investment environment" and that inclusion "is a strategic necessity".
But including Turkey could open a loophole for Chinese automakers to build plants there, saving on energy and labour while still qualifying for EU subsidies, said Chris Heron, secretary general of lobby group E-Mobility.
"It really is like walking on eggshells," he said.
Electric vehicle cost share by country (including batteries) https://www.reuters.com/graphics/AUTOS-EUROPE/MADEINEUROPE/akpeyzxlqpr/chart.png
Electric vehicle cost share by country (excluding batteries) https://www.reuters.com/graphics/AUTOS-EUROPE/MADEINEUROPE/lbpgynzxbpq/chart.png
(Reporting By Nick Carey in London, Gilles Guillaume in Paris and Julia Payne in Brussels. Additional reporting by Christoph Steitz in Frankfurt and Can Sezer in Istanbul. Editing by Mark Potter)
((nick.carey@thomsonreuters.com; +44 7385 414 954;))
India's Tata Group Chair Chandrasekaran seeks deferment of reappointment talks, ET reports
Feb 24 (Reuters) - Indian salt-to-software Tata conglomerate's executive chairman N Chandrasekaran has sought a deferment of discussion on his reappointment, after disagreements broke out in the board meeting of Tata Sons on Tuesday, the Economic Times reported, citing people familiar with the matter.
Tata Sons did not immediately respond to a Reuters request for comment.
(Reporting by Chandini Monnappa and Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
((Chandini.M@thomsonreuters.com; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
Feb 24 (Reuters) - Indian salt-to-software Tata conglomerate's executive chairman N Chandrasekaran has sought a deferment of discussion on his reappointment, after disagreements broke out in the board meeting of Tata Sons on Tuesday, the Economic Times reported, citing people familiar with the matter.
Tata Sons did not immediately respond to a Reuters request for comment.
(Reporting by Chandini Monnappa and Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
((Chandini.M@thomsonreuters.com; https://www.linkedin.com/in/chandini-monnappa-8a37b013b/;))
Adani Power sets up nuclear-focussed unit after India moves to open up guarded sector
Feb 12 (Reuters) - India's Adani Power ADAN.NS said on Thursday it has formed an atomic energy-focussed unit, becoming one of the first privately-held utilities to disclose publicly their interest in the newly-opened nuclear sector.
Adani Atomic Energy Ltd, will generate, transmit and distribute electric power derived from nuclear energy sources, the company said, without giving other details.
The move comes as India opens its nuclear power sector to greater private participation to meet rising electricity demand and curb carbon emissions, with the government targeting a sharp increase in capacity over the coming decades as part of its clean energy push.
So far, state-run Nuclear Power Corporation of India owns and operates the country's fleet of nuclear power plants that have a total capacity of 8.8 gigawatts.
Tata Power's TTPW.NS CEO said last week on a post-earnings call that the company was evaluating three sites for nuclear projects.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)
((mailto: hritam.mukherjee@thomsonreuters.com; @MukherjeeHritam;))
Feb 12 (Reuters) - India's Adani Power ADAN.NS said on Thursday it has formed an atomic energy-focussed unit, becoming one of the first privately-held utilities to disclose publicly their interest in the newly-opened nuclear sector.
Adani Atomic Energy Ltd, will generate, transmit and distribute electric power derived from nuclear energy sources, the company said, without giving other details.
The move comes as India opens its nuclear power sector to greater private participation to meet rising electricity demand and curb carbon emissions, with the government targeting a sharp increase in capacity over the coming decades as part of its clean energy push.
So far, state-run Nuclear Power Corporation of India owns and operates the country's fleet of nuclear power plants that have a total capacity of 8.8 gigawatts.
Tata Power's TTPW.NS CEO said last week on a post-earnings call that the company was evaluating three sites for nuclear projects.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee)
((mailto: hritam.mukherjee@thomsonreuters.com; @MukherjeeHritam;))
India's Tata Power set to snap winning run after profit drop
** Tata Power TTPW.NS shares drop 2.3% to 364 rupees
** Set for first session of losses in four
** Utility firm posts lower quarterly profit, mainly hurt by weak thermal segment; revenue drops 9%
** TTPW, on avg, rated "buy" by 21 analysts; median TP 409.50 rupees - data compiled by LSEG
** YTD, stock down 4.5%; lost 3.3% in 2025
(Reporting by Hritam Mukherjee in Bengaluru)
** Tata Power TTPW.NS shares drop 2.3% to 364 rupees
** Set for first session of losses in four
** Utility firm posts lower quarterly profit, mainly hurt by weak thermal segment; revenue drops 9%
** TTPW, on avg, rated "buy" by 21 analysts; median TP 409.50 rupees - data compiled by LSEG
** YTD, stock down 4.5%; lost 3.3% in 2025
(Reporting by Hritam Mukherjee in Bengaluru)
Tata Power Exec: Indonesia's Kaltim Prima Mine Got Full Quota For Mining
Feb 4 (Reuters) - Tata Power Co Exec TTPW.NS:
KALTIM PRIMA MINE IN INDONESIA HAS GOT FULL QUOTA FOR MINING
TATA POWER EXEC: LOOKING TO DIVEST SOME OF THE INTERNATIONAL ASSETS
IN FINAL STAGES OF SIGNING POWER PURCHASE AGREEMENT WITH GUJARAT FOR MUNDRA PLANT
Feb 4 (Reuters) - Tata Power Co Exec TTPW.NS:
KALTIM PRIMA MINE IN INDONESIA HAS GOT FULL QUOTA FOR MINING
TATA POWER EXEC: LOOKING TO DIVEST SOME OF THE INTERNATIONAL ASSETS
IN FINAL STAGES OF SIGNING POWER PURCHASE AGREEMENT WITH GUJARAT FOR MUNDRA PLANT
Tata Power Company Ltd - Commissions 198 MW Group Captive Project In Karur, Tamil Nadu
Feb 2 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 198 MW GROUP CAPTIVE PROJECT IN KARUR, TAMIL NADU
Source text: ID:nNSE3FCnRs
Further company coverage: TTPW.NS
Feb 2 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 198 MW GROUP CAPTIVE PROJECT IN KARUR, TAMIL NADU
Source text: ID:nNSE3FCnRs
Further company coverage: TTPW.NS
Tata Power Company Commissions 765 Kv Mainpuri–Bara And Mainpuri–Unnao Transmission Lines Spanning 574 Ckm
Jan 30 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 765 KV MAINPURI–BARA AND MAINPURI–UNNAO TRANSMISSION LINES SPANNING 574 CKM
Source text: [ID:]
Further company coverage: TTPW.NS
Jan 30 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 765 KV MAINPURI–BARA AND MAINPURI–UNNAO TRANSMISSION LINES SPANNING 574 CKM
Source text: [ID:]
Further company coverage: TTPW.NS
Tata Power Company Says World Bank Approves Financing For 1,125 MW Dorjilung Hydropower Project
Jan 23 (Reuters) - Tata Power Company Ltd TTPW.NS:
WORLD BANK APPROVES FINANCING FOR 1,125 MW DORJILUNG HYDROPOWER PROJECT
FINANCING INCLUDES $150 MILLION GRANT, $150 MILLION CREDIT FROM INTERNATIONAL DEVELOPMENT ASSOCIATION
Source text: ID:nBSElHtQ2
Further company coverage: TTPW.NS
Jan 23 (Reuters) - Tata Power Company Ltd TTPW.NS:
WORLD BANK APPROVES FINANCING FOR 1,125 MW DORJILUNG HYDROPOWER PROJECT
FINANCING INCLUDES $150 MILLION GRANT, $150 MILLION CREDIT FROM INTERNATIONAL DEVELOPMENT ASSOCIATION
Source text: ID:nBSElHtQ2
Further company coverage: TTPW.NS
Weichai Power Appoints Wang Yanlei as Non-Executive Director, Sun Shaojun to Resign
Weichai Power Company Limited has announced that Mr. Sun Shaojun will resign from his roles as executive Director and member of the Strategic Development and Investment Committee effective January 12, 2026. Mr. Wang Yanlei has been nominated as a non-executive Director, pending approval at the upcoming extraordinary general meeting, and will serve until the conclusion of the annual general meeting for the year ending December 31, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Weichai Power Company Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260112-11988031), on January 12, 2026, and is solely responsible for the information contained therein.
Weichai Power Company Limited has announced that Mr. Sun Shaojun will resign from his roles as executive Director and member of the Strategic Development and Investment Committee effective January 12, 2026. Mr. Wang Yanlei has been nominated as a non-executive Director, pending approval at the upcoming extraordinary general meeting, and will serve until the conclusion of the annual general meeting for the year ending December 31, 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Weichai Power Company Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260112-11988031), on January 12, 2026, and is solely responsible for the information contained therein.
Tata Power Commissions 400/220 KV Transmission Line In Greater Noida
Jan 9 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 400/220 KV TRANSMISSION LINE IN GREATER NOIDA
Source text: ID:nBSEbmpRgW
Further company coverage: TTPW.NS
Jan 9 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY LTD - COMMISSIONS 400/220 KV TRANSMISSION LINE IN GREATER NOIDA
Source text: ID:nBSEbmpRgW
Further company coverage: TTPW.NS
Tata Power Produced 2.9 GW Of Solar Modules, 2.8 GW Of Solar Cells In 9 Months
Jan 7 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY - TP SOLAR PRODUCED 2.9 GW OF SOLAR MODULES, 2.8 GW OF SOLAR CELLS IN 9 MONTHS
Source text: ID:nNSE7tjQGy
Further company coverage: TTPW.NS
Jan 7 (Reuters) - Tata Power Company Ltd TTPW.NS:
TATA POWER COMPANY - TP SOLAR PRODUCED 2.9 GW OF SOLAR MODULES, 2.8 GW OF SOLAR CELLS IN 9 MONTHS
Source text: ID:nNSE7tjQGy
Further company coverage: TTPW.NS
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What does Tata Power do?
Tata Power Company is India’s largest vertically integrated power company, with a well established presence across renewable, thermal and hydro generation, transmission, energy trading, distribution, and next generation energy solutions. As it expand its generation capacity and modernise its grid infrastructure, it continues to lead the charge in rooftop solar, energy storage, and other emerging technologies, powering a smarter, greener future for India.
Who are the competitors of Tata Power?
Tata Power major competitors are Adani Power, NTPC, JSW Energy, NHPC, Torrent Power, Neyveli Lignite, Adani Green Energy. Market Cap of Tata Power is ₹1,31,776 Crs. While the median market cap of its peers are ₹95,702 Crs.
Is Tata Power financially stable compared to its competitors?
Tata Power seems to be less financially stable compared to its competitors. Altman Z score of Tata Power is 1.49 and is ranked 5 out of its 8 competitors.
Does Tata Power pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Tata Power latest dividend payout ratio is 18.1% and 3yr average dividend payout ratio is 18.18%
How has Tata Power allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Tata Power balance sheet?
Tata Power balance sheet is weak and might have solvency issues
Is the profitablity of Tata Power improving?
Yes, profit is increasing. The profit of Tata Power is ₹4,410 Crs for TTM, ₹3,971 Crs for Mar 2025 and ₹3,696 Crs for Mar 2024.
Is the debt of Tata Power increasing or decreasing?
Yes, The net debt of Tata Power is increasing. Latest net debt of Tata Power is ₹57,478 Crs as of Mar-26. This is greater than Mar-25 when it was ₹34,693 Crs.
Is Tata Power stock expensive?
Tata Power is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Tata Power is 35.0, while 3 year average PE is 33.02. Also latest EV/EBITDA of Tata Power is 13.15 while 3yr average is 14.32.
Has the share price of Tata Power grown faster than its competition?
Tata Power has given better returns compared to its competitors. Tata Power has grown at ~30.37% over the last 7yrs while peers have grown at a median rate of 29.07%
Is the promoter bullish about Tata Power?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Tata Power is 46.86% and last quarter promoter holding is 46.86%.
Are mutual funds buying/selling Tata Power?
The mutual fund holding of Tata Power is increasing. The current mutual fund holding in Tata Power is 9.15% while previous quarter holding is 8.89%.