NTPC group eyes continued capacity expansion with approval for thermal and increased renewable energy focus

On a consolidated basis, regulated equity for NTPC as of December 31, 2024, was Rs. 1,05,854 crores, which is around 5 percent higher than the previous fiscal year.

As part of their overall capacity expansion plan, NTPC Group has accorded investment approval for 8 GW of thermal capacity during the current fiscal at an aggregate estimated cost of Rs 1 lakh crore. Sanjay Bharadwaj, Chief Financial Officer of NTPC Limited, added that with this approval, the total thermal capacity under construction now stands at 17.56 GW. He was speaking during an earnings call following NTPC Ltd's Q3 earnings announcement. The total capacity under construction for NTPC Group is now over 30 GW.

Additionally, he added that on a standalone basis, NTPC is "actively considering awarding additional thermal capacity to the tune of 7.2 GW by the end of FY26-27."

Currently, hydro and renewable energy (RE) capacity under construction stands at 2.2 GW and 10.3 GW, respectively.

NTPC Group added 640 MW of commercial capacity to its portfolio during the first nine months of FY25, including commercial RE capacity. As of December 31, 2024, the commercial capacity of NTPC stands at 59,168 MW on a standalone basis and 76,598 MW for the group. During the current quarter, the group added 135 MW of RE capacity.

The management also highlighted that 660 MW of coal capacity from its subsidiary, THDC India Limited will now be commercial from January 26.

NTPC is also pushing for its fuel security measures. "It is planned to enhance the NTPC Group coal production from 14 Mt in FY25 to an estimated 67 Mt by FY29," Bharadwaj added.

To support clean energy transitions, NTPC is also advancing in nuclear energy. "To accelerate our growth, NTPC is also positioned to make significant contributions to the energy transition through clean base load generation technologies such as nuclear power," he noted.

These initiatives include Anushakti Vidyut Nigam Limited, a joint venture company of NTPC and the Nuclear Power Corporation of India Limited, which has been established for commissioning pressurised heavy water reactor nuclear projects. "We have also recently signed a supplementary joint venture agreement with NPCIL for the transfer of the 2,800 MW Mahi Banswara Rajasthan Atomic Power Plant project from NPCIL to Anushakti," he noted.

Additionally, NTPC Paramanu Urja Nigam Limited has been incorporated as a wholly owned subsidiary of NTPC Limited for undertaking the nuclear energy business. "We are planning to conduct site studies at many locations. We have already received permission for four locations in MP for site studies," Bharadwaj said.

As they continue to expand, the power corporation noted that it remains dedicated to implementing various environmental efforts such as "Going higher on generation and lowering GHG intensity."

The company is also advancing Flue Gas Desulfurization (FGD) systems. "Over the next three years, we plan to commission FGD systems for the entire operational capacity, ensuring a substantial reduction in SOx emissions. We have commissioned 16.48 GW, and work on FGD packages for a cumulative capacity of 52 GW is under progress," Bharadwaj added.

The group also reported healthy growth in generation. "NTPC Group generated 327 billion units in nine months FY25 compared to 315 billion units in nine months FY24, registering a growth of 4%. NTPC's standalone generation in nine months FY25 also grew by 4% to 278 billion units from 268 billion units in the corresponding previous period," Bharadwaj noted.

Bharadwaj also highlighted that during the first nine months of FY25, NTPC Green Energy added 550 MW of commercial RE capacity to its portfolio.

On a consolidated basis, regulated equity for NTPC ltd as of December 31, 2024, was Rs. 1,05,854 crores, which is around 5 percent higher than the previous fiscal year.

NTPC Ltd reported a net profit of Rs. 4,711.4 crores, a 3.1 percent increase compared to Rs. 4,571.9 crores in the same period last year. Revenue rose by 4.8 percent to Rs. 41,352.3 crores from Rs. 39,455 crores YoY. EBITDA grew significantly by 20.3 percent to Rs. 1,960.6 crores compared to Rs. 9,941 crores YoY. The EBITDA margin improved to 28.9 percent from 25.2 percent YoY. Additionally, the company declared an interim dividend of Rs. 25 per share.