Indian state-owned power producer NTPC has raised its long-term growth targets, aiming for 149 GW of installed capacity by 2032 across thermal, renewable, hydro, storage, mining and nuclear projects (NTPC press release, 27/08/2026). By 2037, it targets 244 GW excluding storage.
NTPC’s INR16.9tn (USD177bn) plan aims to develop 60 GW of renewable capacity by 2032 and has identified energy storage as a strategic growth area, investing in BESS, pumped-storage and emerging long-duration technologies including redox flow batteries and CO2-based storage.
Nuclear power is another pillar of the company's strategy, with NTPC targeting around 30 GW of India's planned 100 GW nuclear capacity by 2047. Near-term priorities include the 2.8 GW Mahi Banswara project in Rajasthan, while studies are underway at 34 sites across 13 states.
During FY2025-26, NTPC added a record 9.6 GW, including 5.48 GW of non-fossil capacity. Its installed capacity reached around 89 GW, with a construction pipeline of nearly 35.7 GW. The group generated 432 TWh, contributing about 24% of India’s total generation.
According to the announcement, India surpassed 550 GW of installed power capacity in 2025, with non-fossil sources accounting for more than half of the total, while peak electricity demand exceeded 270 GW and is projected to reach around 459 GW by FY2036.
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