Key takeaways
- Founded in 1975 to plug India’s power deficit; its Singrauli super-thermal plant came fully online in 1982.
- It grew into India’s largest power producer, crossing 50 GW in the 2010s and over 75 GW by 2026.
- NTPC Green Energy was carved out in 2022 and listed in November 2024 to house the renewables push.
- In Q4 FY26 it reported consolidated profit of ₹10,615 crore, up 34% year-on-year.
- 1975 Founded as the National Thermal Power Corporation to plug India’s chronic power deficit.
- 1982 Singrauli, India’s first super-thermal plant, becomes fully operational.
- 1990s NTPC adds thermal capacity aggressively across the country to keep pace with demand.
- 2004 It lists at ₹62 a share in the first major PSU IPO of the new century.
- 2010s Capacity crosses 50 GW and NTPC becomes the largest power producer in India.
- 2018 Its renewables push begins with the first solar park.
- 2022 NTPC Green Energy is set up to consolidate the renewable-energy business.
- 2023 Installed capacity crosses 73 GW, with a target of 60 GW of non-fossil capacity by 2032.
- Nov 2024 NTPC Green Energy lists at ₹108 a share in one of the largest PSU IPOs.
- Q4 FY26 NTPC reports consolidated profit of ₹10,615 crore, up 34% year-on-year, on standalone revenue of ₹43,111 crore.
- 2026 It stands as India’s largest power producer at over 75 GW, coal still pays the bills, and solar is the next leg.
NTPC was created to fix India’s chronic power shortage, and for forty years it did so with coal. Now the same balance sheet that built the country’s base load is building its renewable base, which means India’s energy transition is not happening alongside NTPC so much as through it. Here is the journey, year by year.
The pattern is the point
India built its base load on NTPC’s coal plants for four decades, and the same company is now building the country’s renewable base. The transition gets won not by a disruptor with a deck but by the operator that already has the capital, the customers and the grid connections in place, which is exactly why it is happening through NTPC rather than around it.
