NTPC to add 5 GW capacity in FY23, 6 GW in FY24

Representative image. (AP Photo/Manish Swarup)

State-run NTPC Ltd aims to add 5 gigawatts (GW) of new capacity in 2022-23, and another 6 GW in 2023-24, a majority of which will be coal-based, the company’s management said on May 20 in a conference call.

NTPC, India’s largest power generator, has a consolidated installed capacity of 68,982 megawatts (MW). The management said that it has faced delays in adding renewable energy capacity due to the Supreme Court order that requires power transmission lines to be taken from overhead to underground for solar projects, particularly in Rajasthan and Gujarat, to protect the critically endangered bird Great Indian Bustard (GIB). Also, the company has deferred sourcing solar modules for some projects due to high prices, which too has added to the delays, officials said.

“As of now, around 900 MW has been impacted by the GIB issue. We are in the process of taking approval from the committee appointed by the Honourable Supreme Court,” said AK Gautam, Director (Finance).

Of the 5 GW to be added in FY23, about 1.5 GW would be renewable energy. In FY24, 950 MW of the planned 6 GW, would be from renewable sources.

While lenders across the world are shying away from financing coal-based projects on climate change concerns, NTPC is confident of tying up finances for its projects from domestic lenders and fund-raising by bond issuance.

On consolidated basis, NTPC’s total income in FY22 was Rs 134,994.31 crore, up 16.83 percent year-on-year. Profit after tax was Rs 16,960.29 crore in the year ended March, up 13.30 percent on-year.

NTPC officials said that its plants have average coal stocks for 12 days, and the company has tied up to import coal and would get deliveries soon to supplement the domestic coal.