The Indian power company NTPC has signed memorandums of understanding (MoUs) with the state government of India’s Madhya Pradesh to invest more than INR2,000bn (US$23bn) in renewable energy projects in the State. Under the terms of the first MoU signed with Madhya Pradesh Power Generating Company (MPPGCL), INR1,200bn (US$13.8bn) would be invested in the development of up to 20 GW of renewable energy capacity including pumped-storage hydropower, wind and solar. NTPC will also allocate INR800bn (US$9.2bn) to develop non-fossil fuel power plants in the state, including INR40bn (US$460m) in the construction of an 800 MW pumped-storage hydropower project. The specific timeline for these investments has not been disclosed.
Earlier in February 2025, NTPC had also unveiled a US$62bn plan to expand its nuclear capacity in India to over 30 GW by 2044. The group also aims to reach 60 GW of renewable capacity. India notably aims to establish 500 GW of non-fossil fuel electricity generation capacity by 2030.
Searching for proven generation costs?
Then CAPEX & LCOE is the database you need. The module provides exclusive insights on both Capital Expenditure and Levelised Cost of Electricity.
Make informed decisions in terms of which technologies to invest in and where. In just a few clicks, access unique, premium data on both thermal and renewable power generation costs by technology and by country. Put our detailed, reliable information to use and benchmark your project.