NTPC (formerly National Thermal Power Corporation), the largest power producer in India, has announced a long-term capital expenditure plan to change its energy portfolio. It plans to invest ₹16.68 lakh crore ($175 billion) over the next 11 years, making it its largest investment to date, reported The Economic Times. The state-owned utility has expedited its shift from producing power from coal to developing into a multifaceted clean energy enterprise.
The strategy intends to expand its generation capacity to three times nearly 250 GW by 2037, achieving a threefold increase alongside the establishment of 30 GW of nuclear power by 2047. Ten states, including Andhra Pradesh, Gujarat, Maharashtra, and Tamil Nadu, have started nuclear site assessments to find potential reactor locations.
NTPC unveils a ₹16.68 lakh crore capex plan to expand its generation capacity to 250 GW by 2037.
— Prasanna Viswanathan (@prasannavishy) July 29, 2026
From a predominantly coal-fired utility, it aims to transform into a diversified energy major with 136 GW of renewables by FY37, 30 GW of nuclear capacity by 2047, and a 38.9 GWh… pic.twitter.com/0ShMfIcouU
Chairman and managing director Gurdeep Singh stated, “If we consider up to FY37, almost in the next 10 years we are going to incur around ₹16.68 lakh crore. That is the kind of size of the investment,” while talking to the media house. He mentioned that nuclear power is going to be the next phase of advancement after FY32. In addition to other innovative reactor technologies, the firm is concurrently developing traditional pressurised heavy water reactors.
There will be three stages to the investment. It intends to spend ₹1.08 lakh crore in FY26–27, of which ₹56,000 crore has already been used. Afterwards, ₹5.97 lakh crore would be allotted between FY28 and FY32, mostly on renewable energy. An additional ₹9.63 lakh crore would be spent in nuclear power between FY33 and FY37. Thus far, the corporation has dedicated between ₹35,000 and ₹40,000 crores annually on capital expenditures.
Singh conveyed, “Renewable energy, of course, would be the key driver of NTPC’s future growth.” He presented a strategy to increase renewable capacity from the existing 12 GW to 60 GW by FY32 and 136 GW by FY37. A 38.9 GWh battery energy storage pipeline and a target of developing more than 80 GW of pumped-storage projects will support the expansion. On 1,200 acres in Pudimadaka, close to Visakhapatnam, the company is also constructing a green hydrogen hub worth ₹1 lakh crore to manufacture hydrogen as well as downstream green fuels and chemicals.
The Niti Aayog has predicted that India’s peak power demand will almost triple to 750 GW by 2050, having touched a record 271 GW in June.
Even after accounting for the reduction of coal plants due to renewable energy, NTPC’s own generation is climbing by 24% annually. “There is no reason that we will be left behind,” Singh remarked. A 2,800 MW project in Mahi Banswara in Rajasthan is being constructed by Anushakti Vidhyut Nigam Limited (Ashwini), NTPC’s joint venture with Nuclear Power Corporation of India.
