NTPC reported its Q3 FY26 earnings, highlighting significant capacity additions, especially in renewables. The company added 1,744 MW in Q3, including 800 MW from Patratu thermal and 694 MW from renewables. NTPC Green Energy Limited (NGEL) is expanding rapidly, targeting 8 GW of capacity addition for FY27 and FY28. The company is focusing on renewable energy and energy storage solutions to enhance its portfolio.
Key Developments and Capacity Expansion
NTPC Group added 1,744 MW of capacity in Q3 FY26, consisting of 800 MW from Patratu thermal power station, 694 MW from renewables, and 250 MW from THDC pumped storage project. In January 2026, 468 MW of renewables were added, bringing total capacity addition in FY26 to 6,615 MW. The shareholders’ agreement for Sinnar thermal power plant was signed on January 9, 2026.
Financial Performance
For NTPC stand-alone, total income for Q3 FY26 is INR 41,673 crores, compared to INR 42,303 crores in Q3 FY25. The profit after tax for Q3 FY26 is INR 4,987 crores, up 5.85% from INR 4,711 crores in the previous year. The group’s profit after tax for the first nine months of FY26 is INR 16,931 crores, an increase of 5.45%.
NTPC Green Energy Limited (NGEL) Highlights
NGEL added 2,108 MW of renewable capacity during FY26, bringing its total commercial capacity to 8,010 MW as of December 31, 2025. Generation for the nine-month period stood at 9,959 million units, a growth of 206%. NGEL successfully issued INR 1,500 crores of unsecured non-convertible debentures at a competitive interest rate of 7.01%. NGEL is targeting 8 GW of capacity addition for FY27 and FY28.
Renewable and Energy Storage Focus
NTPC is focusing on long-duration energy storage systems, including a 100-MWh redox battery system at the Khavda Solar project. The company is in the final stage of evaluating a tender for 5,000 MWh of BESS capacity at 16 NTPC power stations. The third unit of Tehri pumped storage project has been commissioned.
Sector Updates
NTPC is leveraging the SHANTI Act to accelerate its nuclear capacity roadmap and is selectively scaling its international presence. Distribution companies reported an overall profit of over INR 2,700 crores in FY25, compared to a loss of INR 25,553 crores in FY24.
Source: BSE
