### **Executive Summary** NTPC Limited, India’s largest power generation company, is undergoing a strategic transformation from a predominantly coal-based power utility into a **global integrated energy major**. Aligning with India’s national climate goals, including achieving **500 GW of non-fossil capacity by 2030** and **net-zero emissions by 2070**, NTPC is aggressively diversifying its energy portfolio into **renewables, nuclear energy, green hydrogen, energy storage, green chemicals, waste-to-energy, and e-mobility**. As of November 2025, NTPC operates **83 GW of installed capacity** and has **31 GW under construction**, generating **24% of India’s electricity** with only **17% of total installed capacity**, underscoring its superior operational efficiency. The company has **revised its growth target to 149 GW of total installed capacity by FY32**, up from the earlier 130 GW, backed by a projected **capital expenditure of ₹7 lakh crore**. This ambitious roadmap emphasizes sustainability, innovation, and digital transformation, positioning NTPC as a leader in India’s energy transition and a global player in clean energy solutions. --- ### **Strategic Diversification & Future Energy Portfolio (Vision 2032)** NTPC aims to become a **fully integrated, end-to-end energy solutions provider** by 2032. The company’s diversified business model spans the entire energy value chain—generation, transmission, storage, distribution, and new-age technologies. #### **1. Renewable Energy Expansion** - **Target**: **60 GW of renewable capacity by 2032**, up from **8 GW currently operational**. - NTPC is on track to exceed this target, with **21.3+ GW of renewable and pumped storage projects under development**, including: - **Ultra Mega Renewable Energy Power Parks (UMREPPs)** totaling **36 GW**, including 20 GW in Rajasthan, 4.8 GW in Gujarat, and 4 GW in Andhra Pradesh. - Over **9 GW of floating solar projects planned**, including India’s largest — the 100 MW floating solar plant in Ramagundam, Telangana. - The company has developed **16 GW of solar projects in the pipeline** and secured over **6 GW of land with ISTS connectivity** in Bikaner and Fatehgarh. - **NTPC Green Energy Limited (NGEL)**, its flagship listed subsidiary, leads renewable expansion and is exploring an **IPO** to unlock capital value. #### **2. Nuclear Power Entry & Expansion** NTPC is officially entering the **nuclear power sector**, a key milestone in its energy diversification: - **ASHVINI (Anushakti Vidhyut Nigam Ltd.)**: A joint venture with NPCIL to develop four 700 MW reactors totaling **2,800 MW at Mahi Banswara, Rajasthan**. - Foundation stone expected soon; supplementary JV agreement signed in Q1 FY25. - **NTPC Parmanu Urja Nigam Ltd. (NPUNL)**: A wholly-owned subsidiary formed in January 2025 to pursue independent nuclear projects and advanced technologies such as **Small Modular Reactors (SMRs)**. - Regulatory approvals secured for **four proposed nuclear sites in Madhya Pradesh**. - Collaborating with **BARC and NPCIL** on SMR technology and feasibility studies. #### **3. Green Hydrogen & Green Chemicals** NTPC is a pioneer in India’s green hydrogen economy: - Commissioned a **150 kg/day green hydrogen plant at NETRA using treated sewage water**. - **1 TPD green hydrogen plant under development at Simhadri** using seawater electrolysis. - Piloting **5 hydrogen-powered buses each in Leh and Delhi**, in collaboration with the Indian Army and transport authorities. - Developing a **1,200-acre Green Hydrogen Hub in Pudimadaka, Andhra Pradesh** for production of **green ammonia, methanol**, and potential electrolyzer manufacturing. - Exploring **hydrogen-blending in PNG networks** and green hydrogen-powered mobility. #### **4. Energy Storage & Pumped Hydro Storage (PSP)** Energy storage is central to NTPC’s **round-the-clock (RTC) renewable power** ambitions: - **21,370 MW of PSP capacity planned at the group level**, with: - **11,000 MW led by NTPC**, - Balance via **THDC and NEEPCO**. - **Tehri PSP (1,000 MW)**: 500 MW commissioned, second unit expected by FY26. - **5,600 MW PSP projects allocated** across Tamil Nadu, Maharashtra, Chhattisgarh, and Madhya Pradesh. - Feasibility studies complete for **19 PSP projects**, and DPRs advanced for 4. - Developing **3.6 MWh phase-change material storage at Dadri**, **160 MWh CO₂-based storage at Kudgi**, and **Vanadium Redox Flow Batteries at NETRA**. #### **5. Carbon Capture, Utilization & Storage (CCUS)** NTPC is a leader in **carbon innovation**, advancing all four CCUS components: - Operates a **20 TPD CO₂ capture plant at Vindhyachal** using tertiary amine solvent, with captured CO₂ converted to **methanol**. - Developing a **25 TPD CO₂-to-10 TPD ethanol plant at Lara**, a **global first** in 4G-ethanol from flue gas. - A pilot **CO₂-to-methanol plant (10 TPD)** with 14 TPD CO₂ capture and 2 TPD green hydrogen. - Partnerships with **Tecnimont, CSIR, and RGIPT** to develop indigenous catalysts and processes. - Exploring **CO₂ utilization for sustainable aviation fuel (SAF)** and concrete aggregates. #### **6. Waste-to-Energy & Circular Economy** - **Waste-to-wealth initiatives** include: - **20 TPD torrefied pellet plant** using agricultural waste. - **MSW-to-RDF gasification plant** (400 kW) at Barh. - **Waste-to-energy projects in Varanasi (600 TPD), Bhopal (400 TPD), Hubli Dharwad (200 TPD)**. - **Selling FGD gypsum** (2.58 lakh MT in FY25) to replace imported gypsum in cement and agri industries. - **Bamboo-based 2G bio-refinery** under study at Bongaigaon TPS for bioethanol and bio-coal. --- ### **Thermal & Coal Business: Focused Expansion** While shifting toward clean energy, NTPC remains a leader in **reliable baseload power**: - **No new greenfield coal projects planned**. Focus is on **brownfield expansion** at existing pit-head plants. - **Plans to add 26 GW of coal capacity** (from 62 GW to ~88-89 GW) over the next five years: - **16.5–17 GW under construction**, - Remaining to be awarded in FY25. - Projects include **Lara, Sipat, Singrauli, and Meja expansions**. - Strategic advantage due to **early vendor orders (BHEL, L&T)**, ensuring faster execution. - **Record additions**: 4 GW in FY25, with 3 GW planned in FY26. --- ### **Innovation & R&D: NETRA – Engine of Transformation** **NETRA (NTPC Energy Technology Research Alliance)**, established in 2009, drives technological leadership: - Over **30+ patents granted** in FY24–25, R&D spend doubled over five years. - Key innovations: - Seawater electrolyzer (with RGIPT), - 24 TPD Electro-Dialysis Reversal system, - CO₂ capture and conversion units, - Geopolymer paver blocks from ash. - Research domains: **hydrogen, CCUS, ash utilization, robotics, digital twin, drones, water tech**. - Collaborations with **IITs, CSIR, NETL (USA), DLR (Germany), Curtin University (Australia)**. - **Phase-II of NETRA facility under construction** to boost R&D capacity. --- ### **Consultancy & International Growth** NTPC leverages its expertise to create new revenue streams: - **Consultancy Wing**: - **Over 130 ongoing assignments** in India and 12+ countries. - Services: PMC, O&M, FGD implementation, feasibility studies. - Major clients: THDC, SJVN, DVC, NCL, CCL. - **International Projects**: - Appointed **Project Management Consultant (PMC)** for **>6.5 GW of solar projects** across **Togo, Mali, Ethiopia, Cuba, DR Congo, Zambia, Venezuela** under ISA. - **1,320 MW Maitree Super Thermal Power Plant operational in Bangladesh (50:50 JV with BPDB)**. - **50 MW solar JV underway in Sri Lanka (TPCL with CEB)**. - Offices in **Myanmar, Kenya, Togo, Dubai**. - Registered as foreign entity in Kenya; exploring markets in **Middle East, Africa, CIS, Latin America**. --- ### **E-Mobility & Green Infrastructure** NTPC is expanding into the EV ecosystem: - Commissioned **>140 public EV charging stations** (FAME-II); plans for **267 stations (~1,800 chargers)** in 8 cities. - Supplied **130+ e-buses** to Andaman, Bangalore, and Leh. - Deploying **e-cars and e-buses across NTPC sites**. - Developing **fast-charging and battery-swapping stations**. --- ### **Strategic Subsidiaries & JVs** NTPC uses a multi-entity model for scalability: - **NGEL**: Core renewable arm; owns ~32 GW pipeline (6 GW operational, 17 GW awarded). - **NEEPCO & THDC**: Key players in hydro and PSP development — 6+ GW allocation in Arunachal Pradesh. - **ONGPL (50:50 JV with ONGC Green)**: Acquiring **4.1 GW portfolio from Ayana Renewable** (2.1 GW operational). - **NTPC Mining Ltd. (NML)**: Wholly-owned mining subsidiary to manage 8 captive mines (~86 MTPA capacity). - **NVVN**: Power trading and e-mobility arm; 5% stake in **PXIL**; active in **cross-border trading with Nepal and Bangladesh**. --- ### **Operational & Financial Metrics** - **Installed capacity**: 83 GW (31 GW under construction). - **Record generation**: 422 BU in FY24 (+5.75% YoY). - **Operational Excellence**: Consistently outperforms national average in **Plant Load Factor (PLF) and Availability Factor**. - **Coal procurement**: 92% of ACQ met in FY24; 34 MTPA produced from captive mines (48% YoY growth). - **CAPEX Roadmap**: ₹7 lakh crore by FY32, focused on **PSP, BESS, green chemicals, and nuclear**. ---