NTPC Plans $178 Billion Investment Through 2037 To Nearly Triple Generation Portfolio To 250 GW

State-owned NTPC, India's largest power producer, has outlined an investment plan of approximately ₹17 lakh crore ($178 billion) through fiscal 2037, according to disclosures made at its annual analyst and investor meeting.

The plan is designed to drive a near-tripling of the company's generation portfolio, from the current total capacity of 127 gigawatts (GW) to 250 GW by FY37.

As an interim milestone, NTPC is targeting a portfolio of 150 GW by FY32. The group currently has around 91 GW of operational capacity and 36 GW under construction.

Renewable Energy Leads The Expansion

Renewable energy will be the single largest driver of NTPC's capacity growth over the period. The company intends to increase its renewable energy capacity from 12 GW now to 60 GW in FY32 and 136 GW in FY37.

This is the biggest change in long-term capital allocation ever for the company, with investment gradually moving away from coal-fired generation to renewables, energy storage systems and nuclear power.

Thermal Generation Remains A Growth Area

While it is driving renewables, NTPC is also committed to thermal generation, which it sees as one of the three pillars of India’s energy security, along with renewable energy supported by storage and nuclear power.

Coal-fired capacity is likely to rise from around 67 GW now to 91 GW under current expansion plans.

Nuclear Power Adds To The Strategy

Nuclear power is a nascent and growing part of NTPC's long-term strategy. The company is targeting about 6 GW of nuclear capacity by FY37 as part of a broader target of 30 GW of nuclear capacity by 2047. Studies for site identification are under way across a number of Indian states to identify suitable land for nuclear projects.

Scale Of The Investment

The ₹17 lakh crore investment commitment through FY37 indicates the scale of infrastructure buildout needed to meet India’s growing electricity demand. Capital allocation is gradually shifting towards renewable energy and nuclear power, although coal remains a significant part of the near-term capacity plan.

The combination of all three generation types is central to NTPC's approach to balancing energy security, affordability and decarbonisation over the next decade.

Also Read - Hyundai Motor India Q1 Results FY27