NTPC Approves ₹5,822 Crore BESS Project & ₹3,174 Crore Equity in MUNPL
NTPC approved a ₹5,821.90 Crore investment for a 4.70 GWh Battery Energy Storage System. Additionally, NTPC committed ₹3,173.67 Crore in equity for Meja Super Thermal Power Project Stage-II (3x800 MW) in its JV, MUNPL. The total equity in MUNPL will reach ₹5,000 Crore. Project completion is expected by 2029-30.
The approved investments are substantial, amounting to over ₹9,000 Crore, and relate to core business areas of power generation and energy storage, which are expected to have a significant impact on NTPC's future capacity and operations.
The announcement details significant capital expenditure approvals for a new energy storage project and expansion of a thermal power project, indicating positive growth and investment by the company.
NTPC Limited's Board of Directors, in a meeting held on 28th March 2026, approved a significant investment proposal for a Battery Energy Storage System (BESS) with a total capacity of 4.70 GWh. The estimated project cost for this BESS initiative is ₹5,821.90 Crore.
Furthermore, the Board sanctioned an additional equity commitment of ₹3,173.67 Crore in Meja Urja Nigam Private Limited (MUNPL). MUNPL is a joint venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). This investment is for the establishment of the Meja Super Thermal Power Project Stage-II, which will have a capacity of 3x800 MW. Following this additional equity infusion, the total equity commitment in MUNPL will amount to ₹5,000 Crore. The release of this additional equity is contingent upon receiving a proportionate equity contribution from UPRVUNL.
The Board meeting commenced at 11:10 A.M. and concluded at 12:15 P.M. Details regarding the MUNPL investment indicate that it is a related party transaction, although it does not fall under the specific definition of a Related Party Transaction under SEBI (LODR) Regulations, 2015. MUNPL, incorporated on 2nd April 2008, currently operates Meja Stage-I (2x660 MW) and had a turnover of ₹5,099 Crore in FY 2024-25. The expansion to Stage-II is expected to be completed by 2029-30, with NTPC subscribing to MUNPL's rights issue.
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NTPC Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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