State-run power major NTPC has set a target of expanding its installed generation capacity to 149 GW by 2032 and 244 GW by 2037, backed by cumulative capital expenditure of around Rs 16.86 lakh crore across thermal, renewable, hydro, storage, mining and nuclear energy.
The company plans to build 60 GW of renewable energy capacity by 2032 as part of a broader transformation from a conventional power producer into a diversified and integrated energy company.
Record Capacity Addition In FY26
NTPC Group added a record 9.6 GW of capacity during FY26, its highest-ever annual addition, with nearly 60 per cent coming from non-fossil fuel sources.
The group’s installed capacity has reached around 89 GW, while nearly 35.7 GW of projects are in the pipeline, providing visibility for further capacity expansion.
India’s electricity demand continues to rise on the back of industrial activity, infrastructure development, urbanisation, electric mobility and the expansion of digital services and data centres. Peak power demand has crossed 270 GW and is projected to reach around 459 GW by FY36.
NTPC Green Energy more than doubled its renewable generation to 14.6 billion units during FY26. The group is also expanding its presence in battery energy storage systems, pumped storage projects and long-duration storage technologies.
Nuclear Power Emerges As Key Growth Area
Nuclear energy is expected to form another major pillar of NTPC’s expansion strategy, with the company targeting around 30 GW of nuclear power capacity as part of India’s goal of reaching 100 GW by 2047.
The company is progressing with the 2.8 GW Mahi Banswara nuclear project in Rajasthan while evaluating additional opportunities across multiple states.
On the financial front, NTPC Group reported its highest-ever consolidated profit after tax of Rs 27,546 crore in FY26, up 15 per cent from the previous year. Standalone profit increased 18 per cent to Rs 23,162 crore.
The company’s debt-equity ratio improved to 1.32 despite higher capital expenditure.
Going forward, NTPC plans to accelerate projects under construction, expand renewable and storage capacity, strengthen fuel security, increase its nuclear footprint and develop new energy businesses as it prepares for the next phase of electricity demand growth in India.