Tata Power has announced plans to raise ₹20 billion (~$220.53 million) through private placement of unsecured, senior, redeemable, rated, listed, taxable, non-cumulative nonconvertible debentures (NCDs).

The company has proposed to issue 200,000 NCDs of a face value of ₹100,000 (~$1,102.68) at a fixed rate, on a coupon basis, with bidding on the BSE electronic bidding platform.

Bidding can be on a uniform or multiple-yield allotment basis.

Coupon interest must be paid annually, except at the final maturity of the NCDs.

The NCDs will be tentatively allotted on December 19, 2025.

The Series I of debentures can be redeemed as bullet repayment at the end of three years from the deemed date of allotment, and the Series II of the debentures can be redeemed as bullet repayment at the end of five years from the deemed date of allotment.

The NCDs are proposed to be listed on the BSE’s debt segment.

Tata Power’s renewable energy business continued to drive its performance in the second quarter (Q2) of FY 2026. Revenue from the renewables segment increased by 89% YoY to ₹36.13 billion (~$407.57 million).

The company’s total utility-scale renewable capacity stood at 5.7 GW, comprising 4.7 GW of solar and 1 GW of wind, as of the first half of FY 2026.

During Q2, the company commissioned 293 MW of renewable projects, including 111 MW of its own projects and 182 MW of third-party engineering, procurement, and construction work. Its rooftop solar business installed 370 MW during the quarter.

In the Q2 FY 2026 earnings call, the company said it plans to expand further, with 10 GW of clean energy capacity under construction, including a pipeline of 5 GW of hybrid and firm, dispatchable renewable energy projects.

The renewable arm of Tata Power, Tata Power Renewable Energy, commissioned a 300 MW solar power project for NHPC at Karnisar Bhatiyan in Bikaner, Rajasthan. The project comprises approximately 775,000 solar modules spread across the desert terrain, supported by precision ramming structures and inverters designed to withstand Rajasthan’s extreme temperatures.