Coal news and updates

NTPC Sets Ambitious Targets for Capacity Addition and Coal Production

State-run power utility NTPC Limited has set a target of adding 5 gigawatts (GW) of power generation capacity in the current fiscal year. Chairman and Managing Director (CMD) Gurdeep Singh announced the goal during the annual report for the year 2022-23. NTPC aims to achieve this target by commissioning new projects that are already in advanced stages of completion.

In the fiscal year 2022-23, NTPC added 3.2 GW capacity, with 1.3 GW from renewable energy sources and 660 MW from its first overseas project in Bangladesh. The total installed capacity of the NTPC group currently stands at 73 GW.

A noteworthy achievement for NTPC is that, for the first time, the organic non-fossil capacity addition has surpassed fossil capacity addition. This demonstrates commendable progress in the energy transition journey. Chairman Gurdeep Singh acknowledged the challenges posed by uncertainties and disruptions in the global supply chain but emphasized NTPC’s commitment to sustainable development.

In terms of coal production, NTPC recorded a 65 percent increase from its captive mines, reaching 23.2 million metric tons (MMT) in the fiscal year 2022-23. During the first quarter of the fiscal year 2023-24, coal production grew by over 100 percent compared to the same period last year.

As part of its future plans, NTPC aims to develop around 7 GW of additional coal-based capacity as brownfield projects by 2030. However, the strategic investor plan for NTPC Green Energy Limited (NGEL) has been repealed due to certain issues. NTPC is now considering other strategies, including an Initial Public Offering (IPO), to unlock more value.

NTPC’s investment in the renewable energy sector aligns with the country’s goal of reaching 500 GW of non-fossil energy capacity by 2030. By adding 60 GW of renewable energy capacity by 2032, NTPC aims to contribute to India’s larger aim of achieving ‘Net Zero’ emissions by 2070, as announced at the COP 26 Summit and in the Budget 2023.