• Power demand surge: Power demand has grown by 10% to 11% every month since May due to weak monsoon rains and high humidity, leading the government to extend Section 11 guidelines.
• Mundra SPPA progress: Tata Power has finalized the SPPA with Gujarat, representing nearly 50% of the procurer base, and is in advanced discussions to finalize terms with the remaining four procurer states.
• FY27 demand outlook: Against historical annual growth rates of 5% to 6%, management expects the ongoing consumption surge and festival season momentum to drive an average demand growth of 8% to 10% in FY27.