Tata Power Company Limited (NSE: TATAPOWER) is no longer just a power generation company. With its latest announcement on January 7, 2026, Tata Power has taken a decisive step toward dominating India’s renewable energy supply chain.
The company revealed a ₹6,675 crore investment to set up a 10 GW greenfield ingot and wafer manufacturing plant in Nellore, Andhra Pradesh. This move positions Tata Power not just as a solar developer, but as a manufacturer competing with global players.
Combined with a ₹1.25 trillion long-term CAPEX plan and the resolution of the Mundra power scheduling issue starting this month, investors are now asking:
Is Tata Power the best long-term energy stock for 2026 and beyond?
Why Tata Power Is Trending in January 2026
Tata Power is reacting to three high-impact “alpha triggers” that are reshaping its earnings visibility.
1. Solar Manufacturing Dominance (Nellore Project)
The Nellore plant will be the largest solar ingot and wafer facility in India, helping Tata Power:
Reduce dependence on imported solar components
Improve margins through backward integration
Secure long-term supply for its own solar projects
This significantly strengthens Tata Power’s competitive position in renewables.
2. Mundra Power Resolution
From January 2026, a permanent power scheduling mechanism allows Tata Power to pass through fuel costs at its Mundra plant.
This eliminates one of the biggest earnings uncertainties the company faced during volatile global coal prices.
3. Rooftop Solar Execution Record
In the first nine months of FY26:
1 GWp of rooftop solar installed
345% year-on-year customer growth
This confirms Tata Power’s leadership in India’s distributed solar segment.
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Tata Power Share Price Target 2026–2050
Based on inputs from 22 leading analysts, adjusted for the Nellore manufacturing expansion, here are scenario-based share price targets:
| Year | Bear Case (₹) | Base Case (₹) | Bull Case (₹) |
| 2026 | 345 | 465 | 510 |
| 2027 | 410 | 525 | 630 |
| 2030 | 680 | 840 | 1,050 |
| 2040 | 1,550 | 2,100 | 2,800 |
| 2050 | 3,900 | 4,950 | 6,500 |
Note: These targets are indicative and scenario-based. Long-term projections beyond 2030 are highly speculative and depend on execution, regulation, and macroeconomic conditions.
Tata Power Share Price Target 2026
The ₹465–₹510 zone for 2026 assumes:
Smooth commissioning of the Nellore facility
Stable earnings from Mundra under the new contract mechanism
Continued growth in rooftop and utility-scale solar
Brokerages such as ICICI Securities have issued Strong Buy views, with targets close to ₹500, citing Tata Power’s plan to double EBITDA to ₹30,000 crore by FY30.
Tata Power Share Price Target 2030
By 2030, Tata Power is expected to:
Cross 20 GW of renewable capacity
Generate stable cash flows from integrated solar manufacturing
Reduce earnings volatility across power cycles
The base-case target of ₹840 reflects long-term compounding rather than short-term rerating.
Tata Power Share Price Target 2040
By 2040, Tata Power may emerge as:
A fully integrated clean-energy utility
A dominant rooftop + utility-scale solar player
A long-term beneficiary of India’s energy transition
The ₹2,100 base case reflects scale, not speculation.
Tata Power Share Price Target 2050
The 2050 projection is aspirational, assuming:
Multiple decades of policy support
Continuous relevance across energy cycles
Long-term capital discipline
This horizon suits very long-term investors only.
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Live Technical Levels ((Jan 9–16, 2026))
As of now, Tata Power trades near ₹393.
Immediate Resistance (R1): ₹400.27
Major Breakout Zone: ₹407.43
Pivot Point: ₹387.22
Strong Support (S1): ₹379.32
A sustained move above the breakout zone may attract momentum participation.
Fundamental Health Check (2026)
| Metric | Status |
| Market Capitalisation | ~₹1.25 lakh crore |
| P/E Ratio | ~53.7 |
| ROE | ~18.1% |
| Debt-to-Equity | ~1.45 (improving) |
Despite a premium valuation, Tata Power’s balance sheet is stabilising as renewable cash flows scale up.
Tata Power vs Adani Energy Solutions
Tata Power’s biggest listed peer is Adani Energy Solutions.
Key difference:
Tata Power operates with lower leverage and diversified cash flows
Adani Energy Solutions carries higher balance-sheet risk due to aggressive expansion
This makes Tata Power comparatively more resilient during volatile cycles.
Risks to Watch
Execution Risk: Large manufacturing projects may face delays
Valuation Risk: Premium multiples leave limited room for error
Policy Risk: Changes in renewable subsidies or tariffs
Balanced risk assessment remains essential.
Should You Invest in Tata Power?
Tata Power is transitioning from a traditional utility into a fully integrated renewable energy leader. While short-term volatility is possible, its long-term fundamentals remain strong.
For investors seeking energy transition exposure with execution credibility, Tata Power remains one of the most compelling large-cap options.
Disclaimer
This article is for educational purposes only. Share market investments are subject to market risks. We are not SEBI-registered advisors. Please consult a qualified financial advisor before investing.
Frequently Asked Questions (FAQs)
Is Tata Power a good buy for 2030?
Yes. With plans to exceed 20 GW renewable capacity and strong manufacturing integration, Tata Power is considered a strong long-term candidate.
What is the target for Tata Power in 2026?
Most analyst targets range between ₹421 and ₹465, with bullish estimates nearing ₹500, subject to execution.
What happened in Nellore?
Tata Power announced a ₹6,675 crore investment to set up a 10 GW solar ingot and wafer manufacturing plant, strengthening its renewable supply chain.