Indian power company NTPC plans to invest around INR17tn (USD178bn) through fiscal year 2037, with the objective of nearly doubling its generation portfolio to 250 GW by 2037, following a targeted expansion by 2032 (NTPC’s investor presentation, 27/07/2026).
The NTPC Group currently has a total portfolio capacity of 127 GW, including approximately 91 GW of operational capacity and 36 GW under construction.
NTPC expects renewable energy to become the main driver of future capacity growth, with plans to increase its renewable capacity from around 12 GW currently operational to 60 GW by FY32 and 136 GW by FY37.
At the same time, the company plans to expand its coal-fired capacity from 74 GW currently to around 84 GW by 2032 and 97 GW by 2037. NTPC is also targeting the addition of 6 GW of nuclear capacity to its portfolio by 2037.
The expansion is part of a long-term investment strategy, with capital deployment gradually shifting away from coal-fired generation towards renewable energy, storage systems and nuclear power.
The company’s expansion strategy is aligned with India’s objectives to achieve 60% non-fossil fuel capacity by 2035 and reach carbon neutrality by 2070 (Enerdata Global Energy Research).