NTPC Reports 9,619 MW Capacity Addition and 432.2 BU Generation for Fiscal Year

Annual Performance Overview

NTPC Limited has recorded an annual capacity addition of 9,619 MW and a total power generation of 432.2 BU for the fiscal year. These figures represent the highest annual operational milestones in the company’s history. The performance is situated within a broader strategic pivot that includes a 15% upward revision of long-term capacity targets and expanded investments in non-fossil fuel technologies, including nuclear and pumped storage.

Key Operational Statistics: FY2025-26

• Total Annual Generation: 432.2 BU.
• Total Capacity Addition: 9,619 MW.
• Renewable Energy Progress: The company commissioned 1.3 GW of renewable capacity during the current fiscal year and has set a target to add 6 GW in FY2026.
• Solar Project Commissioning: 49 MW of solar capacity was commissioned at the Khavda project in Gujarat.
• Pumped Storage Operations: Commercial operations commenced for the first 500 MW of the Tehri Pumped Storage Plant (PSP), with the remaining 500 MW of the project expected to be operational within this fiscal year.

Revised Long-Term Capacity Targets (2032 Roadmap)

NTPC has updated its business plan to increase its 2032 capacity goals, supported by a planned capital expenditure of approximately Rs 7 lakh crore.

The designated Rs 7 lakh crore investment is earmarked for strategic expansion in pumped storage projects (PSP), green chemicals, Battery Energy Storage Systems (BESS), and the nuclear power sector.

Portfolio Diversification: Thermal, Renewable, and Nuclear Pipeline

Thermal Expansion NTPC intends to expand its coal-based capacity by approximately 26 GW over the next five years, aiming for a total coal portfolio of nearly 89 GW. This represents an increase from the current 62 GW of installed coal-based capacity. The expansion strategy prioritizes brownfield projects at pithead locations. Regarding this approach, Chairman and Managing Director Gurdeep Singh stated, “Brownfield expansion, in my opinion, makes far better sense than starting the new greenfield.”

Renewables and Hydro The company’s target for 60 GW of renewable energy capacity by 2032 remains unchanged. In the hydro and energy storage segment, NTPC and its subsidiaries have targeted a cumulative 21,370 MW of Pumped Storage Project (PSP) capacity. This includes 11 GW under NTPC and 10.37 GW under its subsidiaries, THDC and NEEPCO. For NEEPCO specifically, the Tato-I, Tato-II, and Heo hydro projects are expected to double the subsidiary’s capacity within the next five to six years.

Nuclear Domain NTPC has formally entered the nuclear energy sector with a target of 100 GW of capacity by 2047. The immediate pipeline includes the Mahi Banswara project in Rajasthan (4×700 MW), developed as a joint venture with the Nuclear Power Corporation of India Limited (NPCIL). The foundation stone for this project is scheduled to be laid in September 2024.

Emerging Technologies and International Projects

1. Green Hydrogen: Development is underway for a Green Hydrogen hub at Pudimadaka, Andhra Pradesh. The project requires an investment of Rs 80,000–85,000 crore and is positioned as an export-oriented facility.
2. CO₂ Battery Storage: A 160 MWh CO₂ battery project is under construction at Kudgi, Karnataka. This facility, which avoids the use of critical minerals, is scheduled for commissioning by July 2026.
3. International Operations: Both units of the joint venture project in Bangladesh are now operational. In Sri Lanka, groundbreaking has been completed for the Sampoor project.

Shareholder Returns and Fiscal Data

For FY25, NTPC paid an interim dividend of INR 5 per share, and the Board of Directors recommended a final dividend of INR 3.35. The total dividend for the fiscal year is INR 8.35, which represents approximately 42 percent of the company’s total profit.

Global Context: National Grid Performance

As of December 31, 2025, the All India Installed Capacity reached 513,729.69 MW. National grid data for the 2025-26 period (up to December 2025) indicates a peak shortage of 0.1%. During this same period, the energy shortage was recorded at 0.03%, compared to 0.1% during the corresponding period in the previous year. NTPC’s record generation and capacity additions align with this trend of increasing national grid stability and total installed capacity growth.