Transmission infrastructure delays
Delays in transmission lines and right-of-way issues caused capex shortfall in FY26 and may persist.
TATAPOWER / bear-case history
Track the concerns that keep returning.
Tata Power · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Regulatory asset amortization in Delhi
Supreme Court has directed amortization of regulatory assets by 2032; any deviation could impact cash flows.
Indonesian coal tax/royalty changes
Potential new taxes on coal exports from Indonesia could increase costs, though coal is pass-through in PPAs.
Curtailment risk for renewable projects
Curtailment due to inadequate evacuation infrastructure impacted PLF in FY26; management is now cautious on new projects.