Tata Power has announced the appointment of Ms. Nishi Vasudeva (DIN: 03016991) as an Additional Non-Executive Independent Director, following approval by its Board of Directors at a meeting held on May 12, 2026. The appointment is subject to the approval of the Company's shareholders and has been disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The key particulars of Ms. Vasudeva's appointment are outlined below:

The Board Meeting commenced at 2.00 p.m. (IST) and concluded at 4.05 p.m. (IST). The appointment was made based on the recommendation of the Nomination and Remuneration Committee.

Profile of Ms. Nishi Vasudeva

Ms. Nishi Vasudeva is a distinguished Indian business executive with over 38 years of experience in the petroleum industry. She is widely recognised as the first woman in India to lead an organisation within the energy sector, and among a select few globally to have served as the head of an oil company.

Ms. Vasudeva served as the Chairperson and Managing Director (CMD) of Hindustan Petroleum Corporation Limited (HPCL), a Fortune 500 company, until March 2016. In this role, she was responsible for:

• Establishing the organisation's vision and long-term objectives
• Enhancing growth and profitability
• Fostering a high-performance culture focused on operational excellence
• Sustaining value creation for stakeholders

She also served as Chairperson of the Board for several HPCL joint venture companies in collaboration with reputed multinational firms and Indian corporates. Her career at HPCL encompassed leadership positions across Marketing, Corporate Strategy, Planning, and Information Systems, and she led key business transformation and organisational restructuring projects. She has additionally been a Member of several Committees for the development of policy for the Hydrocarbon sector in India.

Awards and Academic Background

Ms. Vasudeva has earned several prestigious recognitions throughout her career. She is the first Indian to receive the Platts "Global CEO of the Year" award in the Energy sector. She has also received the SCOPE Individual Leadership Award for Excellence in Public Sector Management, conferred by the President of India, along with multiple other honours.

Academically, she holds a B.A. in Economics (Honours) from Delhi University and an MBA from IIM Calcutta.

Regulatory Disclosure

The appointment has been disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular HO/49/14/14(7)2025-CFDDPOD2/I/3762/2026 dated January 30, 2026. The information has been made available on the Company's website at www.tatapower.com .

Tata Power and Bhutan's Druk Green Power Corporation Limited (DGPC) have expanded their clean energy collaboration through an amendment to their existing Memorandum of Understanding (MoU), adding the 404 MW Nyera Amari I & II Integrated Hydropower Project to their joint development pipeline. The amendment was signed on May 8, 2026, in the presence of Bhutan's Prime Minister Lyonchhen Tshering Tobgay, and was formally executed by Dr. Praveer Sinha, CEO & Managing Director, Tata Power, and Chhewang Rinzin, Managing Director, DGPC. Also present at the ceremony were Ms. Anjali Pandey, President – Generation Business, Tata Power, and senior officials from DGPC and DHPC.

Expanded Hydropower Portfolio

With the addition of the Nyera Amari I & II project, the total identified hydropower capacity under the Tata Power–DGPC partnership has increased to 5,033 MW from 4,500 MW under the original MoU dated November 19, 2024. The collaboration is now described as the largest partnership between two leading power companies of India and Bhutan in Asia's clean energy sector. The following table outlines the full project portfolio under the partnership:

In addition to hydropower, Tata Power and DGPC also aim to jointly develop 500 MW of solar PV projects in Bhutan.

Project Progress and Strategic Significance

Work has already commenced on the Khorlochhu (600 MW) and Dorjilung (1,125 MW) hydropower projects, together accounting for approximately 35% of the committed portfolio of 5 GW. The projects will be developed with mutually agreed equity participation, and both companies will continue to evaluate and add new hydropower opportunities over time. This expansion is aligned with Bhutan's vision to take its overall generation capacity to 25,000 MW by 2040, supporting the country's energy security and regional energy integration goals.

Leadership Perspectives

Dr. Praveer Sinha, CEO & Managing Director, Tata Power, stated, "This milestone of expanding our joint hydropower portfolio to over 5,000 MW with DGPC marks a significant step in strengthening our clean energy partnership in Bhutan. The addition of the Nyera Amari project reflects the scale, ambition, and long-term commitment of this collaboration. This strategic partnership is not only pivotal for advancing Bhutan's economic growth by unlocking its vast hydropower potential but also plays a critical role in enhancing regional energy security. For India, especially during peak summer months when demand continues to reach record highs, such partnerships ensure access to reliable, clean power."

Dasho Chhewang Rinzin, MD, DGPC, said, "The expansion of our partnership with Tata Power to over 5000 MW hydropower portfolio marks a defining milestone in Bhutan's clean energy journey. The inclusion of the 404 MW Nyera Amari I & II Integrated Hydropower Project, alongside key projects such as Khorlochhu (600 MW), Dorjilung (1,125 MW), Gongri Reservoir with Jeri Pumped Storage (2,540 MW), and Chamkharchhu IV (364 MW), reflects the scale and ambition of this collaboration. This partnership will play a pivotal role in unlocking Bhutan's vast hydropower potential, supporting economic growth, and strengthening regional energy security, while reinforcing Bhutan's position as a leading clean energy nation."

Long-Standing Partnership and Company Profiles

Tata Power's association with DGPC spans over a decade, beginning with the 126 MW Dagachhu Hydropower Project—Bhutan's first public-private hydropower partnership, commissioned in 2008. Both companies have a long-standing relationship, having worked together for over 15 years. The original strategic partnership between Tata Power and DGPC was entered on November 19, 2024, with the support of the Royal Government of Bhutan and the Government of India.

Tata Power owns a diversified portfolio of 16.3 GW, spanning renewable and conventional energy generation, transmission, distribution, trading, storage solutions, and solar cell and module manufacturing. The company has 7.5 GW of clean energy generation, constituting 46% of its total capacity, and serves approximately 13 million customers nationwide. DGPC, a subsidiary of Druk Holding and Investments Limited, currently holds a portfolio of 3,473 MW of hydro capacity in Bhutan and is envisioned to achieve 15,000 MW hydro capacity and 5,000 MW solar capacity within the next 10 years.