NTPC plans to treble capacity to 244GW by 2037, invest ₹16.86 lakh crore

New Delhi: NTPC plans to nearly triple its installed power generation capacity to 244 GW by 2037, while expanding renewable energy and nuclear power as part of a broader investment programme spanning generation, storage and fuel security, chairman and managing director Gurdeep Singh said at the company's annual general meeting on Thursday.

The power producer is targeting 149 GW of generation capacity by 2032, including 60 GW of renewable energy capacity.

NTPC plans to invest around ₹16.86 lakh crore cumulatively through FY37 across thermal, hydro and pumped storage, renewable energy, battery storage, mining and nuclear power.

Singh said the investment programme would be accompanied by financial discipline, with the company seeking to balance growth, leverage, returns and shareholder distributions.

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"The next decade will be one of the most significant periods of growth in NTPC's history. We believe the future power system will need three things simultaneously: scale, flexibility and reliability," Singh said.

"NTPC is uniquely positioned to bring these three elements together."

Nuclear power will be a significant part of the company's expansion plans. NTPC aims to contribute around 30 GW of nuclear capacity towards the national target through its wholly owned subsidiary NTPC Parmanu Urja Nigam and its joint venture Anushakti Vidhyut Nigam with Nuclear Power Corporation of India.

Its immediate nuclear focus includes the 2.8 GW Mahi Banswara project in Rajasthan, while studies and discussions are underway for an additional 34 sites across 13 states involving different technologies, the chairman said.

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Nuclear generation, he said, would complement renewable and thermal power by providing reliable, low-carbon, round-the-clock electricity.

The company is also building capacity in battery energy storage systems and pumped storage projects as rising renewable energy penetration increases the need for flexibility in the power system.

NTPC is exploring long-duration storage technologies, including CO2 storage and redox flow batteries, which could reduce dependence on conventional critical minerals.

Singh said NTPC's priorities include completing projects under construction, accelerating renewable energy and storage additions, strengthening fuel security, expanding nuclear operations and improving the efficiency and flexibility of its thermal fleet.

NTPC is also progressing on a 5.75 lakh tonnes per annum coal-gasification-based synthetic natural gas project. Once established, it will be the first plant of its kind in India and is intended to directly substitute imported natural gas.