NTPC approves Rs 8,996 crore for BESS and Meja Stage-II

NTPC Limited approved two major investment proposals at its board meeting on March 28, 2026, committing a combined Rs 8,995.57 crore across battery energy storage and thermal power expansion.

Battery energy storage system

NTPC approved an investment of Rs 5,821.90 crore for a battery energy storage system (BESS) with a total capacity of 4.70 GWh. The approved capacity forms part of NTPC’s broader storage expansion target of 22 GWh by 2032. The company has already initiated bids for 2.67 GWh of BESS across nine thermal stations: Barauni, Gadarwara, Vallur, Khargone, Dadri, Tanda, Bongaigaon, Solapur, and Feroze Gandhi Unchahar. NTPC Renewable Energy Limited (NREL) has also floated a 2.5 GW/10,000 MWh BESS tender planned across multiple NTPC thermal sites. Separately, NTPC is piloting a Thermal Energy Storage System (TESS) at its Dadri station, designed to store excess boiler steam during low-demand periods and release it during peak hours.

Meja Stage-II equity infusion

The board also approved an additional equity investment of Rs 3,173.67 crore in Meja Urja Nigam Private Limited (MUNPL), NTPC’s 50:50 joint venture with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). The funding will support the Meja Super Thermal Power Project Stage-II, which will comprise three units of 800 MW each, totalling 2,400 MW. Following this infusion, NTPC’s total equity commitment in MUNPL will rise to Rs 5,000 crore.

The equity will be subscribed through a rights issue by MUNPL, conditional on proportionate contribution from UPRVUNL, with the shareholding pattern remaining unchanged at 50% each. The transaction is expected to be completed by FY 2029-30.

MUNPL currently operates Meja Stage-I, consisting of two 660 MW units in Uttar Pradesh. The company reported a turnover of Rs 5,099 crore in FY 2024-25, up from Rs 4,242 crore the previous year. NTPC classified the equity infusion as a related party transaction but noted it does not fall within the scope of related party transactions under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Both approvals sit within NTPC’s broader plan to add 60 GW of renewable energy capacity by 2032.

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