Budget effect: Tata Power mulls nuclear reactor biz foray

With the Union Budget unveiling a new ₹20,000 crore Nuclear Energy Mission to develop at least five indigenously designed and operational small modular reactors (SMRs), Tata Power Company Ltd. on Tuesday (February 4, 2025) said it is mulling a foray into the SMR segment.

The government has said it is looking at active partnerships with private players, and promised amendments to the Atomic Energy Act and Civil Liability for Nuclear Damage Act to encourage private investments in nuclear energy.

Tata Power is keen to take up the opportunity to set up small modular nuclear reactors across the country, the firm’s CEO and managing director Praveer Sinha said. “We are keen to participate but are awaiting more clarity on the amendments,” he said.

The firm reported a 10% growth in consolidated net profit at ₹1,188 crore in the third quarter (Q3) ended December 31, 2024, on a 2% uptick in revenue from operations which hit ₹15,118 crore. The company’s operational capacity stood at 6.7 GW in the clean and green segment, generating over 11,700 million units of green power. Another 10 GW of projects are under execution.

“We have emerged as a clean energy leader with presence across the full value chain of manufacturing, EPC, and development of renewable projects along with retail supply through group captives,” Mr. Sinha said. The recent large-scale transmission project wins reaffirm its expertise in evacuation and supply of power nationwide and puts the company at the centre of the development of upcoming Green Energy Corridors.

“We have delivered a sustained PAT growth trajectory over the last 21 quarters and all our businesses have been contributing to this growth,” the Tata Power CEO said about its Q3 performance.