NTPC targets 244 GW power capacity by 2037, plans ₹16.86 lakh crore investment across energy value chain

NTPC expects to build 244 gigawatts of operating capacity and envisage capital expenditure of ₹16.86 lakh crore by 2037 as it looks to boost the entire energy value chain, the company's Chairman Gurdeep Singh said on Thursday.

The next decade will be one of the most significant periods of growth in NTPC’s history, Singh said, noting India's electricity requirement will continue to rise as the economy expands and living standards improve.

At the same time, the composition of the power system will change rapidly, he said while addressing the shareholders at the company's 50th Annual General Meeting (AGM).

"We have raised our long-term capacity ambitions and now target generating capacity of 149 GW by 2032, including 60 GW of renewable energy, with an aspiration to reach 244 GW by 2037 excluding storage," Singh said.

Currently, NTPC has a capacity of around 91 GW.

The company also envisages cumulative capital expenditure of around ₹16.86 lakh crore up to FY37, across thermal, hydro and pumped storage, renewables, battery storage, mining and nuclear, the Chairman said. It will be one of the largest investment programmes undertaken by an Indian power utility, he added.

The transformation of NTPC will not remain limited to adding generation capacity.

The company is also building capabilities across the entire energy value chain, he said. On nuclear, Singh said it is one of the most important areas for NTPC's future growth which is looking to have 30% share in government's ambitious 100 GW of nuclear capacity by 2047 under the Nuclear Energy Mission.

NTPC, which is developing a 2.8 GW nuclear project in Rajasthan in joint venture with NPCIL, is also keen to set up individual nuclear projects. Singh said, "studies and discussions are progressing for an additional 34 sites in 13 states (for nuclear projects) and technologies." Nuclear power will complement both renewable and thermal generation by providing reliable, low-carbon, round-the-clock electricity, he stated.

Speaking further, the chairman informed that NTPC's Coal Gasification-based Synthetic Natural Gas Project is progressing well. "We are also progressing well with a capacity of 5.75 lakh tonnes per annum. Once established, this will be the first plant of its kind in India and will directly substitute imported natural gas," he said.

The NTPC Group achieved its highest-ever consolidated Profit After Tax of ₹27,546 crore in FY26, an increase of 15% over the previous year. Group EBITDA also increased to ₹60,564 crore, while the Group's net worth rose to around ₹2.03 lakh crore.