India's NTPC unveils $178 billion investment plan to triple power capacity by 2037

Wednesday 29 July 2026 - 09:46

By: Sahili Aya

India's NTPC unveils $178 billion investment plan to triple power capacity by 2037

India's largest electricity producer, NTPC, has announced an ambitious long-term investment strategy worth 17 trillion rupees (approximately $178 billion) through fiscal 2037, as the state-owned utility seeks to dramatically expand its generation capacity while accelerating investments in renewable and nuclear energy.

The company aims to increase its total power generation portfolio to 150 gigawatts (GW) by fiscal 2032, up from approximately 91 GW currently in operation, before reaching 250 GW by fiscal 2037.

At present, the NTPC Group has a total portfolio of around 127 GW, including approximately 91 GW of operational capacity and 36 GW under construction.

The expansion strategy reflects India's growing electricity demand and the country's broader efforts to strengthen long-term energy security while diversifying its energy mix.

A significant share of future investment will be directed toward renewable energy, battery storage and nuclear power, marking a gradual shift away from an exclusive reliance on coal-fired generation.

NTPC expects renewable energy to become the largest driver of future capacity growth. The company plans to increase its renewable portfolio from around 12 GW currently in operation to 60 GW by fiscal 2032, before expanding further to 136 GW by fiscal 2037.

Despite its clean energy ambitions, NTPC emphasized that coal will continue to play a central role in India's electricity system. Company executives described coal, renewable energy supported by storage, and nuclear power as the three pillars of the country's energy security strategy.

Under current plans, NTPC's coal-fired generation capacity is expected to rise from approximately 67 GW today to around 91 GW, reflecting the continued importance of thermal power in meeting rapidly growing electricity demand.

The company is also significantly expanding its nuclear ambitions. NTPC is targeting 6 GW of nuclear capacity by 2037, with a longer-term objective of reaching 30 GW by 2047. To support these projects, the utility is evaluating potential sites across several Indian states for future nuclear power plants.

The investment programme positions NTPC at the center of India's evolving energy landscape, balancing rapid growth in renewable generation with continued investment in conventional and nuclear power to ensure reliable electricity supplies for one of the world's fastest-growing economies.