NTPC eyes Rs 17 trillion capex to nearly triple capacity by FY37

New Delhi: India's top power producer, NTPC, plans to invest about 17 trillion rupees ($177.62 billion) through fiscal 2037, aiming to nearly double its generation portfolio by 2032 en route to almost tripling it by 2037, executives said.

The state-run producer ‌is targeting ⁠a ⁠capacity portfolio of 150 gigawatts (GW) by fiscal year 2032, up from around ​91 GW now, and 250 GW by fiscal year 2037, a ​recording from its annual analyst and investor meet showed.

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NTPC Group's total portfolio capacity of 127 GW, including around 91 ​GW operational and 36 GW under ⁠construction.

The ‌expansion is part of a long-term investment plan, with capital allocation gradually shifting towards renewable energy, ⁠storage systems and nuclear power from coal-fired generation.

​NTPC expects renewable energy to be the biggest ​contributor to future capacity growth, planning to raise capacity to 60 GW by FY32 and 136 GW by FY37, from about 12 GW operational now.

It continues to expand thermal generation on the grounds that coal, renewable ‌energy backed by storage and nuclear power are the "three legs" of India's energy security.

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NTPC's coal-fired ​capacity could increase ​to around ⁠91 GW under current plans from 67 GW now, executives said.

The company is targeting 30 GW of nuclear capacity by ​2047 as it steps a push into nuclear power, with its eyes set on capacity of about 6 GW by 2037.

The company is exploring sites across Indian states in studies to identify land for projects.