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Informist, Friday, Aug. 21, 2026

 

By Astha Oriel and Sagar Sen

 

NEW DELHI – NTPC Ltd. may invest INR 40 billion-INR 50 billion in its nuclear power projects, a senior company official told Informist. "These investments will be for land acquisitions at four-five sites," the official said, adding that the company will invest around INR 1 billion-INR 2 billion for the study of sites, and the remaining would be invested for acquiring land. 

 

For its nuclear power plants, the company has already identified four sites in Madhya Pradesh, Gujarat, Odisha, and Andhra Pradesh, and has submitted proposals to the respective state governments, the official said, without divulging details regarding the locations of the sites. 

 

In its June quarter earnings conference call, Chairman and Managing Director Gurdeep Singh had said that the company will invest INR 16.8 trillion as capital expenditure till 2036-37 (Apr-Mar) as it plans to increase its total installed power capacity. As on May 18, the company has total installed capacity of 90 gigawatts and has set a target of achieving 149 gigawatts of total installed capacity by FY32 and up to 250 gigawatts by FY37. The company is targeting 30 gigawatts of capacity for nuclear power projects by 2047. 

 

Of the INR 16.8 trillion capital expenditure, the nuclear power division will get the maximum funds, another senior company official told Informist, without divulging the details as the company is still working on modalities. The official, however, said there have been discussions within the company regarding the capital intensiveness of the nuclear energy sector, and the capex will be decided once the company gets clearance for some sites to set up nuclear plants. "We are on the verge of getting site clearance for a couple of locations, and if the site clearance happens, each site will have a nuclear park of four plants. So, we may have eight to 10 plants working together," the official said, adding that if this happens, the company might also need to revise the overall capex once the plants become operational. 

 

Notably, the company has divided the overall capital expenditure into three parts. In the first tranche, it has earmarked capex of INR 1.08 trillion up to FY27, Director (Finance) Jaikumar Srinivasan said during the post-earnings analyst conference call. In the second phase, which is from FY28 to FY32, total capex will be around INR 6 trillion, driven primarily by renewable energy projects, as per Srinivasan. "The third phase will be from FY33 to FY37. We'll see a major shift towards nuclear power as well, while continuing with the RE (renewable energy) project as well, with an approximately INR 9.63 trillion as capex," he added. 

 

The company's push for nuclear energy comes at a time when several private players such as Reliance Industries Ltd., Jindal Steel Ltd., and Adani Atomic Energy Ltd. have also entered the nuclear energy space. The government is targeting 100 gigawatts of nuclear capacity by 2047, through the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025. 

 

On Sept. 25, the government launched Anushakti Vidhyut Nigam Ltd.'s Mahi Banswara Rajasthan Atomic Power Project in Banswara district of Rajasthan with an investment of around INR 420 billion, as per NTPC's FY26 annual report. "MBRAPP is being developed by Anushakti Vidhyut Nigam Ltd. (ASHVINI)— with joint participation of Nuclear Power Corp. of India (51%) and NTPC (49%), pooling the financial, technological, and project expertise of both companies," the report said. 

 

NTPC is targeting 30 gigawatts of nuclear capacity through Anushakti Vidhyut Nigam, and its wholly-owned nuclear subsidiary, NTPC Parmanu Urja Nigam Ltd., which was incorporated in January 2025.  

 

For the March quarter, the state-owned power producer reported a consolidated net profit of INR 53.42 billion on revenues of INR 438.32 billion. Friday, shares of the company ended 0.7% higher at INR 340 on the National Stock Exchange.

 

Edited by Deepshikha Bhardwaj

 

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