Tata Power has appointed Sanjay Banga as its next chief executive officer and managing director for a five-year term beginning May 1, 2027, placing its renewable energy business at the centre of the company’s next phase of expansion. Banga, currently the CEO and MD of Tata Power Renewable Energy, will take over from Praveer Sinha and has been appointed an additional director and CEO designate with immediate effect.
The leadership change comes as Tata Power expands across solar generation, rooftop installations, solar manufacturing and other renewable energy operations while continuing to run conventional power generation and distribution businesses. Banga has 37 years of experience in the power sector, according to the company announcement reported by Moneycontrol.
Tata Power said its consolidated net profit rose nearly 49% year on year to Rs 1,366 crore for the quarter ended September 30, compared with Rs 919 crore in the corresponding period last year. Revenue from operations increased 26.3% to Rs 19,636 crore, while total expenses rose 26.6% to Rs 18,641 crore.
The earnings increase was supported significantly by the recovery of operations at the company’s 4-gigawatt Mundra coal-fired power plant in Gujarat. The plant had remained shut during the year-ago quarter. Higher contributions from solar manufacturing and rooftop solar installations also supported profitability during the period.
Tata Power’s renewable energy business, described as its second-largest revenue contributor, recorded a 7.9% increase in profit. The company attributed the performance to capacity expansion, improved margins and growth in rooftop solar. It expects to add 2.5 gigawatts of renewable energy capacity in financial year 2026-27 as it expands its solar generation and manufacturing operations.
The company’s portfolio spans regulated and contracted power businesses as well as customer-facing energy services. Outgoing CEO and MD Praveer Sinha said in a statement that regulated and contracted businesses provide resilient cash flows, while renewables, rooftop solar, storage and customer-facing solutions are strengthening growth momentum.
Tata Power also announced an investment of Rs 11,871 crore to expand the capacity of its Shirwata hydro project in Maharashtra to 1,800 megawatts. The proposed investment adds a large storage-linked generation component to the company’s renewable expansion plans, alongside its solar capacity and manufacturing businesses.
Banga’s appointment will become effective as the formal leadership transition on May 1, 2027. Until then, he will serve in the CEO designate role while continuing to lead Tata Power Renewable Energy.
