NTPC Approves Battery Storage And Meja Equity Expansion

02 Apr 2026 CW Team

The board also approved an additional equity investment of Rs31,736.7 million (mn) in Meja Urja Nigam Private Limited (MUNPL), a joint venture with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited, to support the Meja Super Thermal Power Project – Stage II, which comprises three×800 megawatt (MW) units. Upon completion of the rights issue subscription, NTPC's total equity commitment to MUNPL is expected to increase to Rs50,000 million (mn), subject to proportionate contribution from UPRVUNL. The equity infusion is planned to be completed by FY 2029–30 and is intended to accelerate capacity addition for base load supply.

MUNPL currently operates Meja Stage I, which comprises two×660 megawatt units, and has shown revenue growth in recent years. Reported turnover was Rs50,990 million (mn) in FY 2024–25, Rs42,420 million (mn) in FY 2023–24 and Rs38,100 million (mn) in FY 2022–23. The planned Stage II expansion is expected to materially increase generation capacity and the operational scale of the joint venture.

NTPC positioned the twin approvals as part of a balanced capital allocation strategy that pursues energy transition through utility scale battery infrastructure while preserving energy security via thermal expansion. The company indicated that utility scale storage will assist peak demand management, frequency regulation and reliable power supply during the ongoing energy transition. The disclosure of these approvals was submitted to BSE Limited and the National Stock Exchange of India in line with regulatory requirements.

NTPC Limited's board approved development of a Battery Energy Storage System (BESS) with a total capacity of four point seven gigawatt hour (GWh) at an estimated cost of Rs58,219 million (mn). The decision was disclosed to stock exchanges in compliance with SEBI listing obligations and disclosure requirements. The company framed the investment as aimed at strengthening grid stability and supporting large scale renewable integration. The board also approved an additional equity investment of Rs31,736.7 million (mn) in Meja Urja Nigam Private Limited (MUNPL), a joint venture with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited, to support the Meja Super Thermal Power Project – Stage II, which comprises three×800 megawatt (MW) units. Upon completion of the rights issue subscription, NTPC's total equity commitment to MUNPL is expected to increase to Rs50,000 million (mn), subject to proportionate contribution from UPRVUNL. The equity infusion is planned to be completed by FY 2029–30 and is intended to accelerate capacity addition for base load supply. MUNPL currently operates Meja Stage I, which comprises two×660 megawatt units, and has shown revenue growth in recent years. Reported turnover was Rs50,990 million (mn) in FY 2024–25, Rs42,420 million (mn) in FY 2023–24 and Rs38,100 million (mn) in FY 2022–23. The planned Stage II expansion is expected to materially increase generation capacity and the operational scale of the joint venture. NTPC positioned the twin approvals as part of a balanced capital allocation strategy that pursues energy transition through utility scale battery infrastructure while preserving energy security via thermal expansion. The company indicated that utility scale storage will assist peak demand management, frequency regulation and reliable power supply during the ongoing energy transition. The disclosure of these approvals was submitted to BSE Limited and the National Stock Exchange of India in line with regulatory requirements.

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