1. Sakti Unit 2 commissioning - The 600 MW Unit 2 at Sakti is on track for commissioning by Q4 FY27, with ₹1,745 crore of the ₹5,209 crore approved capex still unspent. This doubles Sakti's capacity to 1,200 MW and adds \~600 MW to the group's 4,780 MW total, with a 200 MW PPA till 2031 already in place.
2. Sakti Unit 1 revival - Unit 1, shut since the 14 April 2026 boiler blast, is 26% revived with planned start-up by end of Q2 FY27, and 2.7 million tonnes of linkage coal secured from SECL and MCL. Restoring this unit recovers the sales volume that fell to 464 MU in Q1 FY27 and lifts plant availability from 11% back toward the 91% level of Q4 FY26.
3. Meenakshi domestic coal transition - Meenakshi is on track to reach 100% domestic coal, already at 65-70% Indian coal in Q1 FY27, which contained coal cost 12% YoY despite import prices rising over 60%. Completing this transition protects the plant's highest-ever quarterly EBITDA of ₹112 crore and its 1,350 million unit sales run-rate.
4. Jharsuguda regulatory recoveries - A favourable APTEL judgement in the short supply matter could bring a ₹300 crore refund, and a State Commission order allows recovery of ash disposal costs worth up to ₹40 crore annually from January 2022. These are cash inflows on a plant already running at 93% availability with a 100% pass-through PPA till 2037.
5. Talwandi Sabo availability improvement - Plant availability rose to 86% in Q1 FY27 from 77% in Q4 FY26, above the 80% normative level in the Punjab PPA, with sales up 14% QoQ to 2,723 million units. Every point above 80% availability earns compensation under the availability-based tariff, and the plant also achieved the NCR region's highest biomass co-firing at 7.92%.
6. Capacity roadmap to 12 GW - Management targets 11,980 MW by FY33, up from 4,780 MW today, with \~7.2 GW of Sakti expansion starting FY30 onwards, though the 7,200 MW Sakti addition is yet to be board approved. This is a five-fold capacity increase over seven years, anchored by linkage coal covering 85% of requirements.
7. PPA portfolio expansion - A 100 MW contract with Kerala was recently secured, taking long-term/medium-term PPA coverage to 74% of power sales (3,080 MW) across Punjab, Odisha, Tamil Nadu and Kerala. New PPAs reduce merchant-market exposure and provide predictable revenue, with 85% of capacity already backed by linkage coal.