New Delhi: NTPC Ltd is targeting 244 GW of operating generation capacity by 2037 and plans cumulative capital expenditure of around ₹16.86 lakh crore up to FY37, as the state-owned power major prepares for a major expansion across the energy value chain.
NTPC Chairman Gurdeep Singh outlined the company’s long-term growth strategy while addressing shareholders at the company’s 50th Annual General Meeting (AGM) on Thursday.
The company currently has an installed capacity of around 91 GW.
NTPC Raises Capacity Target to 244 GW
Singh said the next decade is expected to be one of the most significant periods of growth in NTPC’s history, driven by rising electricity demand as India’s economy expands and living standards improve.
NTPC has raised its long-term capacity ambitions and now targets:
- 149 GW of generation capacity by 2032
- 60 GW of renewable energy capacity within the 2032 target
- 244 GW of generation capacity by 2037, excluding storage
- Current capacity of around 91 GW
The company expects the composition of India’s power system to change rapidly, with renewable energy and other low-carbon sources playing an increasingly important role alongside conventional generation.
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₹16.86 Lakh Crore Capex Planned Through FY37
NTPC plans to invest approximately ₹16.86 lakh crore cumulatively up to FY37 across multiple segments of the energy sector.
The planned investment will cover:
- Thermal power
- Hydropower
- Pumped storage
- Renewable energy
- Battery storage
- Mining
- Nuclear power
According to Singh, the investment programme would rank among the largest undertaken by an Indian power utility.
NTPC Expands Across Entire Energy Value Chain
The company’s transformation will extend beyond increasing electricity generation capacity.
NTPC is developing capabilities across the entire energy value chain, with investments spanning conventional power, renewables, nuclear energy, energy storage and mining.
The company is also exploring newer technologies and projects aimed at strengthening energy security and meeting India’s future electricity requirements.
NTPC Targets 30% Share in India’s Nuclear Capacity
Nuclear power has emerged as a key component of NTPC’s long-term growth strategy.
Singh said NTPC is targeting a 30% share of the government’s planned 100 GW nuclear capacity by 2047 under the Nuclear Energy Mission.
NTPC is currently developing a 2.8 GW nuclear power project in Rajasthan in partnership with Nuclear Power Corporation of India Limited (NPCIL).
The company is also exploring opportunities for individual nuclear projects. Studies and discussions are progressing for 34 additional sites across 13 states, covering potential locations and technologies.
According to Singh, nuclear power can complement renewable and thermal generation by providing reliable, low-carbon and round-the-clock electricity.
Coal Gasification Project to Produce Synthetic Natural Gas
NTPC is also progressing with its Coal Gasification-based Synthetic Natural Gas (SNG) Project.
The project has a planned capacity of 5.75 lakh tonnes per annum. Once commissioned, NTPC expects it to become India’s first plant of its kind.
The project is aimed at producing synthetic natural gas that can directly substitute imported natural gas, supporting the country’s energy security and reducing dependence on imports.
NTPC Reports Record ₹27,546 Crore Profit in FY26
NTPC Group reported its highest-ever consolidated Profit After Tax (PAT) of ₹27,546 crore in FY26, marking a 15% increase over the previous year.
The company’s financial performance also strengthened across other key indicators:
- Consolidated PAT: ₹27,546 crore
- Growth in PAT: 15% year-on-year
- Group EBITDA: ₹60,564 crore
- Group net worth: Around ₹2.03 lakh crore
The strong financial performance provides a foundation for NTPC’s planned investments across power generation and emerging energy businesses.
About NTPC Limited
NTPC Limited is India’s largest integrated power utility and a Maharatna public sector undertaking under the Ministry of Power, Government of India. The company operates across power generation and has expanded into renewable energy, nuclear power, mining, energy storage and other areas of the energy value chain.
