State-run electricity giant NTPC has unveiled an ambitious strategy aimed at achieving an installed power generation capacity of 149 GW by 2032, progressing to 244 GW by 2037. This growth is supported by a substantial planned capital expenditure of approximately Rs 16.86 lakh crore spanning various segments, including thermal, renewable, hydro, storage, mining, and nuclear energy projects, according to Chairman and Managing Director Gurdeep Singh.

During the company’s 50th Annual General Meeting, Singh outlined NTPC’s transition from a traditional power producer to a comprehensive and integrated energy company. This transition includes a robust presence across all facets of the energy value chain, incorporating renewables, storage solutions, nuclear power, mining activities, power trading, and advancements in emerging energy technologies.

Renewable Energy Capacity Goals

Singh highlighted the company’s aspirations, stating that NTPC has set a target to establish 60 GW of renewable energy capacity by 2032 as part of its overarching goal of achieving 149 GW of total generation capacity. He remarked, “The next phase will be even more ambitious: 149 GW by 2032 and 244 GW by 2037, along with 60 GW of renewable capacity by 2032,” emphasising the organisation’s optimism about the long-term demand for electricity in India and NTPC’s role in meeting future energy needs.

The Chairman pointed out that the nation’s electricity demand is growing rapidly due to various factors such as industrial development, infrastructure projects, urban expansion, electric mobility, and the increase in digital services and data centres. The peak power demand has already surpassed 270 GW and is anticipated to reach approximately 459 GW by the financial year 2036, presenting significant opportunities for power producers.

Record Capacity Addition and Future Prospects

Singh stated that the NTPC Group achieved a record capacity addition of 9.6 GW during the financial year 2026, the highest yearly increment in the company’s history, with nearly 60 per cent stemming from non-fossil fuel sources. Currently, the group’s total installed capacity is around 89 GW, complemented by a project pipeline of nearly 35.7 GW, which ensures visibility for sustained growth in the future.

The company is also actively positioning itself in emerging sectors. NTPC Green Energy Limited reported a more than twofold increase in its renewable generation to 14.6 billion units in FY26. Additionally, NTPC is developing considerable capabilities in battery energy storage systems, pumped storage projects, and long-duration storage technologies.

Commitment to Nuclear Energy

Nuclear energy is regarded as a key future growth sector for NTPC. The company aims to contribute approximately 30 GW of nuclear capacity towards India’s goal of achieving 100 GW of nuclear power by 2047. Currently, NTPC is advancing the 2.8 GW Mahi Banswara nuclear project located in Rajasthan while exploring further opportunities in various states.

Strong Financial Performance

On the financial front, the NTPC Group has reported its highest-ever consolidated profit after tax of Rs 27,546 crore for FY26, reflecting a 15 per cent increase from the previous year. The standalone profit also saw an 18 per cent rise, reaching Rs 23,162 crore. Despite higher levels of capital expenditure, the company has maintained a robust balance sheet, showcasing an improved debt-equity ratio of 1.32.

Looking to the future, Singh expressed that the next decade is poised to be one of the most pivotal growth phases in NTPC’s history, driven by increasing electricity demands and a diversified energy mix. He affirmed that the company will focus on completing ongoing projects, accelerating renewable and storage capacity, enhancing fuel security, expanding its nuclear transition, and developing new energy ventures. In doing so, NTPC aims to remain a reliable partner in India’s growth while evolving into a comprehensive energy company, balancing energy security with a commitment to a clean energy transition.

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