NTPC Clears 4.70 GWh Battery Storage Project And Expands Meja Thermal Power Capacity

NTPC Limited, a leading Government of India enterprise, has approved two major investment decisions to expand its energy portfolio and strengthen its joint venture operations. The decisions were taken during the company’s Board of Directors meeting held on March 28, 2026.

The first approval focuses on renewable energy development. NTPC plans to set up a large-scale Battery Energy Storage System (BESS) with a total capacity of 4.70 GWh. The project is estimated to cost ₹5,821.90 crore. This move reflects the company’s growing focus on clean energy and its efforts to support grid stability. Battery storage systems are becoming increasingly important as India continues to add more renewable energy sources like solar and wind, which require efficient storage solutions to manage power supply and demand.

In addition to the storage project, NTPC has also approved an equity investment of ₹3,173.67 crore in Meja Urja Nigam Private Limited (MUNPL). MUNPL is a 50:50 joint venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The new investment will be used to develop Stage II of the Meja Super Thermal Power Project, which will add a capacity of 3×800 MW.

With this latest investment, NTPC’s total equity commitment in MUNPL will increase to ₹5,000 crore. However, the release of these funds depends on UPRVUNL contributing an equal share of equity. This condition ensures that the ownership structure of the joint venture remains balanced between the two partners.

The expansion project is expected to be completed by the financial year 2029-30. Over the past few years, MUNPL has shown steady financial growth. Its turnover increased from ₹3,810 crore in FY 2022-23 to ₹5,099 crore in FY 2024-25, indicating strong operational performance.

NTPC also clarified that this investment falls under related party transactions. However, the company confirmed that there will be no change in the existing 50:50 ownership structure after the proposed rights issue. These disclosures were made in line with regulatory requirements under SEBI’s Listing Obligations and Disclosure norms.

These developments highlight NTPC’s balanced strategy of investing in both renewable energy and conventional power projects to meet India’s growing energy needs.