Tata Power

** Water treatment solutions provider Enviro Infra Engineers' ENVI.NS shares rise 2.8% to 211.84 rupees

** Co says it received a letter of intent (LOI) from Tata Power Renewable Energy for the development of a 180 MW NTPC wind power project in Maharashtra state

** LOI has a contract value of 2.24 billion rupees ($23.55 million)

** ENVI trades at forward 12-month PE of 11.32 vs industry median of 18.70 - data compiled by LSEG

** YTD, stock up 0.1%

($1 = 95.1000 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

Repeats with no changes to text

By Abhijith Ganapavaram

NEW DELHI, Sept 8 (Reuters) - Air India's request for about $1.5 billion in funds from its owners — Tata Sons TATO.NS and Singapore Airlines — has sparked a debate in Singapore over state investor Temasek's exposure to the Indian carrier.

A government minister said the news of the funding request had prompted anti-Indian abuse online, and asked police to examine the comments.

Here are the key facts:

AIR INDIA'S FUNDING REQUEST

Air India has approached India's Tata Group and Singapore Airlines about equity funding months after the second-largest Indian airline and its budget arm posted a record annual loss of $2.33 billion, Reuters reported last month.

While Tata is the majority owner, Singapore Airlines SIAL.SI, which is itself majority-owned by state investor Temasek, holds 25.1% of Air India and has booked its share of the Indian carrier's losses.

WHY HAS THE REQUEST SPARKED POLITICAL SCRUTINY?

Opposition Workers' Party lawmaker Kenneth Tiong said in a social media post a day after the Reuters report that Temasek's funds should not be used to prop up Air India via Singapore Airlines.

Temasek owns and manages its own assets and its reserves form part of Singapore's national reserves, which, Tiong argued, made Singaporeans indirectly stakeholders in the flag carrier.

The government has come out in strong defence of Singapore Airlines, and the matter was discussed in parliament on Tuesday.

Transport Minister Jeffrey Siow said investment decisions belonged to Singapore Airlines' board and that Singaporeans were not paying for the Air India investment. Siow also said Singapore Airlines had not sought further capital from shareholders.

Air India and Tata have not commented publicly on the funding request.

HOW HAVE TEMASEK AND SINGAPORE AIRLINES REACTED?

Temasek has said it views Singapore Airlines' investment in Air India from a long-term perspective and supported it.

Singapore Airlines on Tuesday said that its investments in India have been and will continue to be funded through internal resources, subject to board approval and a disciplined capital allocation framework. It described the stake as a long-term strategic commitment aligned with its multi-hub strategy.

WHY HAS IT STOKED RACIST ABUSE?

Senior Minister K. Shanmugam said over the weekend that news of the funding request had prompted anti-Indian abuse online, including suggestions that Temasek chief executive Dilhan Pillay Sandrasegara favoured Air India because of his Indian ethnicity. Shanmugam called such comments libellous and said the CEO was as Singaporean as anyone else.

Temasek did not respond to a request for comment.

Shanmugam said he had asked police to examine those comments and separate remarks about Singaporeans missing in flash floods abroad.

Prime Minister Lawrence Wong has also condemned the abuse, saying that seemingly legitimate arguments should not be used as cover for prejudice against any community or hostility towards foreigners.

(Reporting by Abhijith Ganapavaram; Editing by Aditya Kalra and Tomasz Janowski)

((Email: [email protected]; Mobile: +91-9019785574;))

** Nuvama upgrades India's Tata Power TTPW.NS to "buy" with TP of 363 rupees, says current market price has priced in Kleros arbitration overhang

** Shares of TTPW up as much as 1.8%

** Stock has fallen 8% after Kleros ruling, implying potential cash outgo of $490-$640 mln, says brokerage

** Current market price is less than bear case TP of 363 rupees, by factoring in full Kleros liability, not assigning any value to upcoming pumped storage project (PSP) and Bhutan project, says brokerage

** Adds, bull case TP of 421 rupees offers ~16% upside at current market price; pricing in emerging PSP, in-hand transmission projects, Bhutan hydroelectric project

** TTPW on avg rated "buy" by 24 analysts; median PT is 421 rupees - LSEG-compiled data

(Reporting by Abhirami G in Bengaluru)

(([email protected]))

Aug 31 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER RENEWABLE ENERGY LTD- COMMISSIONS 100 MW GROUP CAPTIVE SOLAR PROJECT IN TAMIL NADU

Source text: ID:nnAZN4THBAW

Further company coverage: TTPW.NS

(([email protected];;))

** Shares of Tata Power TTPW.NS fall 3.2% to 352.25 rupees

** Kleros Capital Partners says a Singapore court dismisses TTPW's challenges to arbitration awards worth about $490 million in Kleros' favour

** TTPW is required to immediately pay a sum exceeding $640 million to Kleros, including interest

** Last year, Kleros last claimed TTPW breached confidentiality and non-circumvention clauses for proposed coal mining project in Russia

** The ruling is a negative development for TTPW, given the sizeable financial liability and potential cash, ICICI Securities says

** While the award is unrelated to its core India power operations, the quantum is material and could weigh on near-term earnings and cash flows, the brokerage adds

** TTPW will challenge the court ruling, the power producer said in a statement

** Avg rating of 24 analysts on TTPW at "buy"; median PT is 420 rupees - LSEG compiled data

** YTD, stock down 7.6%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

The Singapore International Commercial Court dismissed Tata Power's challenge on August 26 to arbitral awards in its dispute with Kleros Capital Partners, finding no breach of natural justice or the fair-hearing rule. Tata Power said it would file an appeal with Singapore's Court of Appeal within 28 days. The arbitration was initiated by Kleros in November 2020, and the challenged awards were issued in July and August 2025. The Kleros award at issue was valued at USD490.3m, while Tata Power reported net debt of ₹56,122 crore at the end of FY26.

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Aug 26 (Reuters) - Tata Power Company Ltd TTPW.NS:

• KLEROS CAPITAL PARTNERS LIMITED: SINGAPORE COURT DISMISSES ALL OF TATA POWER'S CHALLENGES TO USD 490 MILLION ARBITRATION AWARDS IN FAVOUR OF KLEROS

• KLEROS CAPITAL PARTNERS - TATA POWER IS REQUIRED IMMEDIATELY TO PAY KLEROS A SUM NOW EXCEEDING USD 640 MILLION

Source text: ID:nPn2zDF4xa

Further company coverage: TTPW.NS

(([email protected];))

Aug 24 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY - COMMISSIONS 190.5 MW FDRE PROJECT IN RAJASTHAN

Source text: ID:nnAZN4TFX4T

Further company coverage: TTPW.NS

(([email protected];))

Adds context and detail on the draft rules in paragraphs 2-11

By Sarita Chaganti Singh

NEW DELHI, Aug 14 (Reuters) - India on Friday proposed a tightly supervised approval regime for private nuclear power generation, opening the door to foreign reactor technologies with proven track records.

The draft rules and regulations offered the clearest picture yet of how New Delhi intends to open a tightly guarded sector to private and foreign investors, while retaining control over entry and operations, in line with global nuclear markets.

According to the draft rules under the nuclear energy act, companies would secure approval in principle to engage vendors, undertake preliminary development work and secure land before obtaining a formal licence.

Once licensed, projects would face stage-by-stage regulatory scrutiny covering design, siting, construction, commissioning and operation. The draft regulations propose oversight powers for regulators including the ability to halt work at key project stages.

India's nuclear industry has remained largely under state control, with access to foreign fuel and technology constrained for decades after its 1974 nuclear test explosion triggered international restrictions.

Last year, the country amended the nuclear energy act to allow private companies to build and operate projects, while retaining control over licensing and strategic nuclear materials.

The world's third-largest greenhouse-gas emitter aims to expand nuclear generation capacity 12-fold to 100 gigawatts (GW) over the next two decades, making private investment and foreign technology critical to meeting those ambitions.

Reuters reported earlier that India invited domestic private conglomerates including Adani Green ADNA.NS, Tata Power TTPW.NS and Reliance Industries RELI.NS to invest in nuclear power.

Changes to the nuclear energy act included capping liability of nuclear equipment suppliers in accidents, a longstanding concern. The move was aimed at reviving interest from foreign vendors such as General Electric GE.N, Westinghouse Electric and EDF EDFGN.UL.

The draft regulations, circulated for public consultation, allow reactor designs with established overseas operating records, requiring developers to submit licensing and operating experience in their home markets.

Nuclear power developers would be required to maintain financial security for nuclear liability, decommissioning and waste-management obligations, and submit plans for management of radioactive waste.

(Reporting by Sarita Chaganti Singh; Editing by Alison Williams and Cynthia Osterman)

(([email protected];))

Rewrites, adds details

Aug 13 (Reuters) - A panel will recommend the next chairman of India's largest conglomerate Tata Sons, the charitable arm that controls the group said on Thursday, a day after N. Chandrasekaran said he would not seek reappointment at the end of his term in February.

The Sir Dorabji Tata Trust, part of Tata Trusts and one of the two principal charitable trusts that own Tata Sons, has passed a resolution to initiate the setting up of a selection committee "as soon as possible", Tata Trusts said in a statement.

The Sir Dorabji Tata Trust and the Sir Ratan Tata Trust collectively owned more than 50% of Tata Sons as of March 31, according to the Tata Sons annual report.

"We extend our full support to Tata Sons in ensuring a smooth, timely and orderly transition of leadership, consistent with the values and long-term interests of Tata Sons and the Tata group," Tata Trusts said.

Earlier this year, Tata Sons — which controls more than 30 Tata companies, including IT firm TCS TCS.NS, Tata Motors TAMO.NS and Air India — postponed a decision on reappointing Chandrasekaran as chairman after Noel Tata, chairman of Tata Trusts, opposed the move.

Chandrasekaran cited the lack of board backing as the reason for his departure.

(Reporting by Surbhi Misra and Abinaya V in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates throughout to reflect Chandra's statement confirming his resignation.

By Shritama Bose

MUMBAI, Aug 12 (Reuters Breakingviews) - India's $290 billion Tata conglomerate has extended its abysmal record on managing succession. Its leader of nine years, N. Chandrasekaran, resigned on Wednesday ahead of an annual meeting next week where shareholders of the unlisted holding company, Tata Sons, may have ousted him. The exit of the first real outsider to run the 158-year-old group removes a distraction but also raises difficult questions about its future.

A row between Chandra and the charitable trusts that control the salt-to-power conglomerate became public in February over a mandate by the Reserve Bank of India to list Tata Sons. Chandra didn't see eye to eye with Tata Trusts Chair Noel Tata who opposed a listing. That led to a stalemate over his reappointment which made his position untenable.

The recent discord overshadowed Chandra's success in turning around large parts of the group. He deleveraged bloated balance sheets after inheriting serious problems at Tata Steel TISC.NS and Tata Motors TATM.NS. Annualised total shareholder returns from most listed group firms have beaten India's benchmark Nifty 50 stock index .NSEI since he took charge in 2017, prior to news of his departure.

But AI pressures have led to lagging returns at Tata Consultancy Services TCS.NS, the group's industry-leading IT outsourcer where he was previously CEO and which contributes 87% of Tata Sons' $3.4 billion annual dividend income. That will squeeze funds available to plough into unlisted businesses like the group's smartphone making venture with Apple AAPL.O and money-losing Air India, a carrier foisted on Chandra by the late Ratan Tata, former Tata Sons chair and chair emeritus.

Infighting also has delayed decision-making on other leadership issues: it took four months to name a CEO for Air India after Campbell Wilson stepped down in April, while rival IndiGo-owner InterGlobe Aviation INGL.NS replaced its chief within weeks in March. And the spat also has jeopardised the Tatas' philanthropic spending, which relies on dividends paid up through the holding company.

Worst of all, Chandra's departure is uncomfortably reminiscent of the 2016 ouster of his predecessor Cyrus Mistry. Back then, Ratan Tata swooped in as interim chair for four months before handing over to Chandra. His passing in 2024 has left the family's influence over the group in flux and the trusts under greater scrutiny, a test they are not passing with flying colours.

The 5% drop in Tata Consultancy shares on news of Chandra's departure underscores the ripple effect it will have across the group where he also chairs many individual companies. And it signals how the consequences of this second leadership disaster could force a bigger rethink on how the Tata group, with its unusual ownership structure, is managed.

Follow Shritama Bose on LinkedIn and X.

CONTEXT NEWS

N. Chandrasekaran on August 12 resigned as chair of Tata Sons, the Indian conglomerate's holding company, citing the absence of unanimous support from the board for his re-appointment.

In a personal statement, Chandrasekaran, known as Chandra, said one board member did not support his re-appointment at a February board meeting, noting six months have since passed without a resolution on the matter. Chandra added it is necessary to have a leader in place to run the group beyond February 2027, when his current term as chair ends.

Earlier in the day, The Economic Times, citing unnamed sources, reported Chandra had discussed the possibility of stepping down ahead of an annual general meeting scheduled for August 18 amid uncertainty over his reappointment as a director and tensions with Tata Trusts Chair Noel Tata.

Charitable trusts collectively own nearly two-thirds of Tata Sons. Two of ​them — Sir Ratan Tata Trust and Sir Dorabji Tata Trust — hold a 52% stake between them.

(Editing by Una Galani; Production by Ujjaini Dutta and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

July 30 (Reuters) - REC Ltd RECM.NS:

• REC - UNIT TRANSFERS RYAPTE POWER TRANSMISSION SHARES WORTH 108.7 MILLION RUPEES TO TATA POWER

Source text: ID:nNSE6x5t7v

Further company coverage: RECM.NS

(([email protected];;))

July 28 (Reuters) - India's Tata Sons TATO.NS said Air India's turnaround could take upto a decade, extending the timeline for the carrier's turnaround, Chairman N. Chandrasekaran said in the company's annual report late on Monday.

The comment comes as the country's second largest airline grapples with air space closures, higher fuel costs from the conflict in West Asia, and the fallout from a deadly plane crash last year.

Here are more details:

* Airline's turnaround will take time due to persistent supply-chain disruptions in key components, the need to overhaul legacy systems, culture, fleet, and efforts to build a larger technical and airline workforce, Chandrasekaran said.

* The revised timeline marks a departure from Vihaan.AI, the five-year plan unveiled in September 2022 by then Chief Executive and Managing Director Campbell Wilson.

* Wilson is set to step down as Air India's CEO on Sept.30 after serving his notice period. The company is yet to announce a successor.

* Air India reported a wider net loss of 222.38 billion rupees ($2.32 billion) for the financial year ended March 2026, compared with 108.59 billion rupees a year earlier.

* India's airline industry has rebounded strongly since the pandemic but profitability remains under pressure from high costs, supply-chain constraints and fierce price competition.

($1 = 95.7050 Indian rupees)

(Reporting by Saikeerthi in Bengaluru; Editing by Nivedita Bhattacharjee)

(([email protected];))

Tata Power reported a consolidated net profit of ₹1,401 crore for the June quarter, up 11% from a year earlier, while revenue rose 8% to ₹18,898 crore. The company also disclosed that it had secured a letter of intent from REC Power Development & Consultancy for an intra-state transmission project in Karnataka. The project involves building 491 circuit kilometres of transmission lines at an estimated cost of over ₹4,000 crore, taking Tata Power's total transmission portfolio to 7,894 ckm. The LOI marks a significant expansion of the company's regulated transmission business.

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NEW DELHI, July 27 (Reuters) - India's Tata Power is targeting its first exports of solar equipment including cells and panels to Europe, CEO Praveer Sinha said on Monday, as the European Union seeks to diversify its supply chain beyond Chinese manufacturers.

• More than 95% of solar modules installed in the EU are imported, with China supplying about 94% of its modules and cells in 2023, according to consultancy firm Green Horse Advisory.

• Italy last year opened up imports for solar projects built without equipment manufactured in China under the European Union's Net-Zero Industry Act, aiming to reduce the bloc's reliance on low-cost Chinese renewable energy components.

• In response to a question about the Italian opening, Sinha said on a post-earnings media call that Tata Power sees 2-3 gigawatts of export opportunity to one country, without giving further details.

• The company has capacity to manufacture 4.9 GW of integrated cells and modules, and is aiming to build capacity to manufacture up to 10 GW of solar ingots and wafers.

• India has nearly 200 GW of module-making capacity and about 30 GW of cell capacity, according to government estimates, and many Indian module makers are eyeing exports to Europe.

• India and the European Union struck a trade deal early this year that slashed tariffs on most goods, aiming to boost two-way trade.

(Reporting by Sethuraman NR; Editing by Jan Harvey)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

July 22 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY - BOARD TO CONSIDER ISSUANCE OF NCDS, BONDS, OR DEBT SECURITIES ON JULY 27, 2026

Source text: ID:nBSE15WRj8

Further company coverage: TTPW.NS

(([email protected];))

NEW DELHI, July 20 (Reuters) - India's coal-fired power plants have sufficient coal stocks to run for about two weeks at higher operating rates, easing concerns about fuel shortages amid rising electricity demand and below-average monsoon rainfall.

• Coal stocks at power plants stood at 42.8 million tonnes as of July 12, enough for 14 days of operation at an 85% plant load factor, the power ministry said in a reply to parliament on Monday.

• Utilities are also getting sufficient coal supplies to meet their daily requirements, it added.

• India's peak power demand surged last week to nearly 270.1 gigawatts (GW), driven by higher cooling demand as an El Nino pattern contributed to weaker rainfall.

• India's peak power demand had reached 270.2 GW in May, and the government expects it to touch 280 GW this year due to the absence of stronger monsoon rains.

• Coal remains the backbone of India's power system despite the country's aggressive renewable energy expansion.

• Coal and lignite-fired plants accounted for 69.5% of electricity supplied during April-June and generated about 75% of power during non-solar peak-demand hours, according to the ministry.

• The government has intensified coordination among the coal, power and railway ministries to monitor supplies and prioritize coal transportation to power stations, the power ministry said.

• India added 9.47 GW of coal-fired generation capacity in 2025-26 and a further 2.26 GW between April and July, helping support record electricity demand, the government said.

(Reporting by Sethuraman NR; Editing by Susan Fenton)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

MUMBAI, July 13 (Reuters) - India's Tata Power TTPW.NS has accepted bids worth 15 billion rupees ($156.8 million) for bonds maturing in five years, three bankers said on Monday.

It will pay a coupon of 7.50%, and had invited commitment bids for the issue earlier in the day, they said.

Tata power did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 13:

*Size includes base plus greenshoe for some issues

($1 = 95.6400 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Varun H K)

(([email protected]m, [email protected]))

MUMBAI, July 10 (Reuters) - India's Tata Power Company TTPW.NS plans to raise 15 billion rupees ($157.26 million) through a sale of bonds maturing in five years, two merchant bankers said on Friday.

The company will pay an annual coupon of 7.50% on this issue and has invited bids on Monday, the said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 10:

*Size includes base plus greenshoe for some issues

($1 = 95.3850 Indian rupees)

(Reporting by Dharamraj Dhuti; Editing by Sonia Cheema)

(([email protected]))

July 3 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER RENEWABLE ENERGY LIMITED- COMMISSIONS 100.8 MW JEWALI WIND PROJECT IN MAHARASHTRA

Source text: [ID:]

Further company coverage: TTPW.NS

(([email protected];))

June 25 (Reuters) - Suzlon Energy Ltd SUZL.NS:

• SUZLON ENERGY LTD - GETS EPC CONTRACT FOR 400 MW WIND ENERGY PROJECT

Source text: [ID:]

Further company coverage: SUZL.NS

(([email protected];))

Recasts and writes through with details on Adani's nuclear plans

By Sethuraman N R and Abinaya V

NEW DELHI/BENGALURU, June 24 (Reuters) - Adani Group outlined its ambitions to be a major player in India's nuclear power on Wednesday, saying it intends to build as much as 10 gigawatts of capacity by 2035 which would likely make it the country's biggest private-sector operator.

"Our entry into nuclear energy through Adani Atomic Energy is another confident step towards securing India's long-term energy future," Gautam Adani, the conglomerate's chairman, said at the group's annual general meeting.

India, which is keen to expand its use of clean energy, last year opened its nuclear generation sector to domestic and foreign firms in the private sector. It aims to expand nuclear capacity to 100 gigawatts by 2047 from about 8 gigawatts at present.

State-run Nuclear Power Corp of India, currently India's sole operator of nuclear plants, aims to have 50 GW of capacity while the country's top coal plant operator NTPC NTPC.NS, also state-run, is aiming for 30 GW of nuclear capacity.

Adani would likely be the third-biggest operator of nuclear plants. Several other private companies including Tata Power TTPW.NS and Reliance Industries RELI.NS are looking at investing in the sector.

The Adani group has identified land for the projects, but did not disclose details, including where the projects might be located.

Adani said the conglomerate's data centre business is on track to build 3 GW of capacity by 2030. The group is also ramping up its piped natural gas projects to meet India's rising demand for gas.

India's gas supplies have been disrupted due to global shipping constraints after the U.S. and Israel's war with Iran halted traffic through the Gulf and the Strait of Hormuz.

Shares of Adani Enterprises ADEL.NS, the group's flagship firm, rose 2.3% on Wednesday.

(Reporting by Sethuraman NR and Abinaya V; additional reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich and Edwina Gibbs)

(([email protected]; 8800437922;))

June 23 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY - EXTENDS VALIDITY OF DIRECTIONS FOR MUNDRA THERMAL PLANT TO SEPTEMBER 30, 2026

Source text: ID:nNSE3cgVmS

Further company coverage: TTPW.NS

(([email protected];;))

June 19 (Reuters) - Tata Power Company Ltd TTPW.NS:

• TATA POWER COMPANY - RECEIVES LOI FOR ACQUISITION OF RYAPTE POWER TRANSMISSION SPV

• TATA POWER COMPANY - ANNUAL TRANSMISSION CHARGES FOR PROJECT ARE 5.21 BILLION RUPEES

Source text: ID:nBSEbRvmTS

Further company coverage: TTPW.NS

(([email protected];;))

By Aftab Ahmed and Saurabh Sharma

NEW DELHI, June 3 (Reuters) - India is likely to order more than $2 billion worth of military drones from domestic firms this year in its biggest such purchase, an industry body working with the government told Reuters, as global and regional conflicts boost demand.

The plans are in advanced stages with deliveries expected over 18 to 24 months, for a jump in value from recent government orders worth 30 billion rupees ($313 million) for tactical-class drones, said Smit Shah, president of the body.

"In the next phase, tactical drone procurements in India may exceed 200 billion rupees, or more than $2 billion," said Shah, whose Drone Federation India represents more than 550 companies and works closely with the government.

Shah said the new orders may follow a fast-track procurement route designed to meet urgent operational needs, with deliveries probably needed within 24 months.

The defence ministry did not immediately respond to requests for comment on the likely purchase order, which Reuters is the first to report.

OFFENSIVE POTENTIAL OF LOW-COST DRONES IN SPOTLIGHT

India's push follows clashes with arch-rival Pakistan in May last year, when both sides deployed unmanned aerial vehicles at scale for the first time, highlighting the offensive potential of low-cost drones.

The conflicts in Ukraine and Iran have further sped adoption globally, driving down costs and reshaping battlefield tactics.

In March, the defence ministry approved a proposal worth about 2.38 trillion rupees ($24.85 billion) to buy transport aircraft, missiles system and "remotely piloted strike aircraft", or armed drones, without giving a spending breakdown.

"Drones are force multipliers on the modern battlefield," said Ramesh Chandra Padhi, an executive at IG Defence, a builder of advanced unmanned aerial and short-range missile systems.

"The Indian army is following emergency or fast-track procurement to expedite the induction of drones on a very large scale," the former senior army officer added.

DRONE INDUSTRY EXPLODES IN INDIA

India has more than 600 firms making drones and components, with more than 100 focused on defence applications.

The companies range from large players such as Adani Group, Larsen & Toubro and Tata Advanced Systems to startups like ideaForge, Newspace Research and Asteria Aerospace.

They work on building reconnaissance, logistics, loitering munition, precision-strike and critical component systems.

In recent years, India has overhauled a typically slow defence procurement process to allow faster acquisition of drones, particularly after clashes with Pakistan exposed gaps in surveillance and strike capabilities, Reuters has reported.

New Delhi has started relying on emergency procurement powers and swifter efforts under the Defence Acquisition Procedure, compressing timelines to months instead of years.

At the same time, in its push to boost domestic manufacturing, it is giving priority to systems made at home.

The government has also expanded schemes such as Innovations for Defence Excellence (iDEX) to fund prototypes and enable smaller firms to win initial orders and help scale up production quicker.

At the same time, the defence ministry has opened more areas of procurement to startups and private firms, eased testing norms and pushed the armed forces to add systems through repeat and interim orders that let companies refine products rapidly.

The changes are reshaping India's drone industry, long dominated by small players, as better order visibility and policy support unlock funding and partnerships, DFI's Shah said.

Venture investment and tie-ups with larger defence firms have picked up, with companies ramping up manufacturing and research to fill rising military demand, he added.

($1=95.7750 rupees)

(Reporting by Aftab Ahmed and Saurabh Sharma; Editing by Clarence Fernandez)

(([email protected]; +91 99109 33884;))

** 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)

(([email protected]))

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)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]/))

Repeats to additional subscribers, no changes to text

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)

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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

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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

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