State-owned power company NTPC Ltd plans to award an additional 13.6 gigawatt (GW) of thermal capacity by the financial year 2026-27 in line with the government’s target of adding more thermal based capacities to meet the rising power demand. The company intends to commission 2.7 GW of thermal capacity by the end of the current financial year and another 1.46 GW in FY26, the company’s Director (Finance) Jaikumar Srinivasan said on Friday.
“We are actively considering awarding thermal capacity to the tune of 13.6 GW by FY27. This is in addition to 11.16 GW thermal capacity already under construction. Furthermore, to have greater fuel security, we are enhancing our coal mining capacity as well,” Srinivasan said on an analyst call. “We plan to enhance estimated NTPC Group’s coal production from 40 million metric tonnes in FY25 to about 67 million metric tonnes up to FY29.”
In the renewable energy segment, the company, through its wholly owned subsidiary NTPC Green Energy Ltd, aims to add 3 GW of green capacity by the end of current financial year with plans to add another 5 GW by FY26, and 8 GW by FY27. The company presently has an operational renewable energy capacity of close to 4.3 GW.
“Going beyond that, it has to be a progressive plan. We will be simultaneously entering into the bidding process. We are thoroughly procuring it and also seeking land connectivity on a parallel side,” the company said.
NTPC is expected to come out with its initial public offering (IPO) for NGEL in the third quarter of FY25. The management noted that there is no valuation that has been decided for the subsidiary right now. “We are still in the process, and we are hopeful that we will conclude it by Q3FY25,” Srinivasan said.
He added that going forward NGEL will have an edge and access to a lot of multilateral loans from financial institutions exclusively focusing on green energy, renewable energy and ESG.
NTPC on Thursday reported an increase of 14% in its consolidated net profit for the second quarter of the financial year 2024-25 at Rs 5,380.25 crore from Rs 4,726.40 crore in Q2FY25. On a sequential basis, however, the net profit declined by a marginal 2.3%.
The company’s revenue from operations for the quarter under review stood at Rs 44,696.30 crore, down by a marginal 1% from Rs 44,983.35 crore in the corresponding quarter of last fiscal. Total income remained largely unchanged at Rs 45,197.77 crore.
From: financialexpress
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