Government-owned power major NTPC has set its sights on an installed capacity of over 130 gigawatt (GW) by 2031-32 with an estimated capital expenditure of ₹7 lakh crore. It currently has an installed capacity of 76 GW.

A foray into nuclear power generation is also in the pipeline with the proposed 2.8 GW project at Rajasthan to be set up in phases.

The central government has decided to add 80 GW of additional thermal power capacity by 2031-32 to meet the growing power demand. Out of this, NTPC is expected to add around 26 GW. NTPC officials told analysts that of the 26 GW, around 9.5 GW is currently under construction, 8 GW is in the tendering process and the remaining 8.5 GW tenders will be awarded by next year.

“The entire 26 GW thermal plants will be on a cost plus regulated basis and will be set up as brownfield plants with competitive capex of ₹10-11 crore per MW on completion basis,” Axis Securities said in a note on Tuesday.

On the renewable energy side, NTPC has set a target of 60 GW capacity by 2032. At present, around 9.2 GW of renewable energy projects are under construction with a pipeline of 24 GW. NEEPCO and THDC, the hydro subsidiaries, are expected to add around 12 GW by FY30.

The 2.8 GW nuclear power project is also under consideration for award, with a capex of around ₹42,000 crore. NTPC has formed a joint venture with Nuclear Power Corporation of India, with the latter owning 51 per cent of the JV.

On Tuesday, the NTPC scrip at ₹406.90 was up 3.31 per cent over the previous close on the BSE.