In a board meeting held on March 28, 2026, which commenced at 11:10 A.M. and concluded at 12:15 P.M., the NTPC Limited Board of Directors approved major investment proposals totaling approximately ₹8,995.57 crore. These approvals encompass a significant capital expenditure for a standalone Battery Energy Storage System (BESS) and an additional equity commitment for the thermal expansion of the Meja power project. The dual-track investment signals a strategic focus on both energy storage infrastructure and the enhancement of high-efficiency thermal generation capacity to meet evolving grid demands.
Battery Energy Storage System (BESS) Investment
The board has authorized an investment of ₹5,821.90 crore for the implementation of BESS units with a combined capacity of 4.70 GWh (4,700 MWh). This initiative is a critical component of NTPC’s corporate strategy to achieve a storage capacity target of 22 GWh by 2032. The development follows a comprehensive EPC bidding process structured across two primary lots: Lot-1, comprising 2,334 MWh, and Lot-2, comprising 2,670 MWh.
Analytical data indicates the average cost for these BESS works is approximately ₹1.12 crore per MWh. Per the tender terms, these projects are subject to a 15-month commissioning timeline from the date of commencement, followed by an Operations and Maintenance (O&M) period of 11 years.
The geographic footprint of this investment spans nine thermal stations: Barauni (Bihar), Gadarwara (Madhya Pradesh), Vallur (Tamil Nadu), Khargone (Madhya Pradesh), Dadri (Uttar Pradesh), Tanda (Uttar Pradesh), Bongaigaon (Assam), Solapur (Maharashtra), and Feroze Gandhi Unchahar (Uttar Pradesh). Specific project allocations and contract values for industry winners include:
- G R Infraprojects: Awarded 400 MWh at the Mouda station in Maharashtra for ₹413.37 crore.
- Solarworld Energy Solutions: Allocated a total of 514 MWh across the Unchahar and Solapur stations, with a total contract value of nearly ₹600 crore.
- Enviro Infra Engineers: Tasked with units at the Tanda and Bongaigaon stations for ₹405.71 crore.
- Pace Digitek: Awarded a 400 MWh package at the Nabinagar power plant in Bihar for ₹494.50 crore.
Meja Thermal Power Project Stage-II Expansion
NTPC has further approved an additional equity infusion of ₹3,173.67 crore into Meja Urja Nigam Private Limited (MUNPL). MUNPL operates as a 50:50 joint venture (JV) between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). This new commitment, to be issued through a rights issue, brings NTPC’s total equity investment in the JV to ₹5,000 crore. The release of this additional equity is contingent upon a “Supplementary JV Agreement” being signed between the partners and a proportional contribution from UPRVUNL.
The Stage-II expansion will add 2,400 MW of capacity, bringing the total site capacity at the Meja utility to 3,720 MW.
Meja Stage-II Technical Specifications
| Feature | Specification |
| Configuration | 3 x 800 MW units |
| Total Stage-II Capacity | 2,400 MW |
| Total Project Capacity | 3,720 MW (Including Stage-I 2 x 660 MW) |
| Technology | Ultra Supercritical Technology |
| Location | Village Kohdar, Mai Khurd & Patai Dandi, District Prayagraj, Uttar Pradesh |
| Water Source | River Ganga; 60,000 m³/day fresh water allocation (under process) and 12,000 m³/day from Stage-I surplus. |
Financial Performance and Project Timelines
Meja Urja Nigam Private Limited has demonstrated consistent financial growth leading up to this expansion phase. The historical turnover figures for the JV are as follows:
- FY 2022-23: ₹3,810 Crore
- FY 2023-24: ₹4,242 Crore
- FY 2024-25: ₹5,099 Crore
According to corporate filings, the expansion and storage projects are targeted for completion by FY 2029-30.
Regulatory Compliance and Disclosure
This announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Regarding the equity infusion, NTPC addressed the “Related Party Transaction” status, clarifying that while MUNPL is a joint venture, the subscription to the rights issue does not fall within the scope of related party transactions as defined by SEBI (LODR) Regulations regarding subscriptions to rights issues.
The release of additional equity remains subject to the maintenance of the existing 50:50 shareholding structure, requiring a proportional financial commitment from UPRVUNL.
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