NTPC Limited’s Board of Directors approved two major proposals during their meeting on March 28, 2026. The primary approval is for a Battery Energy Storage System (BESS) project with a 4.70 GWh capacity, costing an estimated ₹5,821.90 Crore. Additionally, NTPC committed an additional equity infusion of ₹3,173.67 Crore into the Meja Urja Nigam Private Limited (MUNPL) for the Stage-II expansion of the Meja Super Thermal Power Project.
NTPC Board Approves Major Capital Expenditures
The Board of Directors of NTPC Limited convened on March 28, 2026, concluding business between 11:10 A.M. and 12:15 P.M. The primary outcomes focused on significant investments in both green energy infrastructure and existing joint venture capacity expansion.
Investment in Battery Energy Storage (BESS)
The Board sanctioned an investment proposal for a large-scale Battery Energy Storage System (BESS). Key details are as follows:
- Total Capacity: 4.70 GWh.
- Estimated Project Cost: Rs.5,821.90 Crore.
Equity Infusion in MUNPL for Meja Stage-II
NTPC approved an additional equity commitment of Rs 3,173.67 Crore into Meja Urja Nigam Private Limited (MUNPL). MUNPL is a 50:50 Joint Venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
This investment is specifically earmarked for establishing the Meja Super Thermal Power Project Stage-II (3×800 MW). Following this capital infusion, the total equity commitment in MUNPL by NTPC will reach Rs.5,000 Crore. The release of this new equity is contingent upon receiving the proportionate contribution from UPRVUNL.
Details on the Joint Venture Entity (MUNPL)
The transaction involves an existing related party, MUNPL, which currently operates Meja Stage-I (2×660 MW). The objective of the current proposal is capacity expansion through Meja Stage-II, with the final promoter shareholding remaining unchanged at 50:50. MUNPL’s reported turnover for FY 2024-25 was Rs.5099 Crore. The entity was incorporated on April 2, 2008, and its business falls under the Power Generation industry.
The projected timeline for the completion of this capacity expansion is Upto 2029-30. The consideration for NTPC’s acquisition portion is Cash Consideration, valued at Rs.3173.67 Cr (proposed) for the acquired shares.
Source: BSE
