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India's largest power producer, NTPC, has outlined a long-term investment plan of around INR 17 trillion (USD 177.62 billion) through FY37 to significantly expand its power generation capacity. The state-run company aims to increase its overall portfolio to 150 GW by FY32 and 250 GW by FY37, with renewable energy expected to drive most of the growth. While expanding its clean energy, storage and nuclear businesses, NTPC will also continue adding coal-fired capacity, maintaining a balanced energy mix to support India's growing electricity demand and long-term energy security.
India's largest power producer, NTPC, plans to invest around INR 17 trillion (USD 177.62 billion) through FY37 as part of its long-term strategy to expand its power generation portfolio across thermal, renewable and nuclear energy segments. The investment is aimed at meeting India's rising electricity demand while supporting the country's clean energy transition.
According to details shared during the company's annual analyst and investor meeting, NTPC is targeting a total installed capacity of 150 GW by FY32, almost doubling its current operational portfolio of around 91 GW. The company further plans to expand its capacity to 250 GW by FY37, nearly three times its present operational base.
At present, the NTPC Group has a total portfolio capacity of about 127 GW, comprising nearly 91 GW of operational capacity and around 36 GW that is under various stages of construction.
The company indicated that its future investments will increasingly shift towards renewable energy, battery energy storage systems and nuclear power, although thermal power will continue to remain an important part of its generation mix.
Renewable energy is expected to contribute the largest share of NTPC's future capacity additions. The company plans to increase its renewable energy capacity from around 12 GW currently to 60 GW by FY32 and further to 136 GW by FY37. The expansion aligns with India's broader renewable energy targets and the government's focus on increasing the share of non-fossil fuel-based power generation.
At the same time, NTPC will continue expanding its coal-based generation capacity. Company executives indicated that coal-fired capacity is expected to increase from about 67 GW currently to nearly 91 GW under existing expansion plans. They stated that coal, renewable energy supported by storage systems, and nuclear power together form the three key pillars of India's long-term energy security, making a diversified power mix essential for ensuring reliable electricity supply.
NTPC is also strengthening its presence in the nuclear energy sector. The company is targeting around 6 GW of nuclear power capacity by FY37 as part of a longer-term goal of developing 30 GW of nuclear capacity by 2047. To support these plans, it is conducting studies across multiple Indian states to identify suitable land for future nuclear power projects.
The expansion strategy comes at a time when India is witnessing steady growth in electricity demand, driven by industrial expansion, infrastructure development, rapid urbanisation and increasing electrification across sectors. NTPC has been steadily diversifying beyond conventional thermal power over the past few years by increasing investments in solar, wind, green hydrogen, pumped storage and battery storage projects, while continuing to develop high-efficiency coal-based plants to ensure reliable base-load power generation.
Source Reuters
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