NTPC Ltd. Approves Battery Storage System and Commits Additional Equity to Joint Venture
NTPC Limited (NTPC) announced approvals from its Board of Directors for key strategic initiatives on March 28, 2026. The board approved an investment proposal for a Battery Energy Storage System (BESS) with a total capacity of 4.70 GWh, carrying an estimated project cost of Rs. 5,821.90 Crore.Additionally, NTPC committed an additional equity of Rs. 3,173.67 Crore to Meja Urja Nigam Private Limited (MUNPL), a joint venture company with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). This investment will bring the total equity commitment in MUNPL to Rs. 5,000 Crore. The release of this additional equity is contingent on UPRVUNL’s proportionate equity contribution.
MUNPL, incorporated on April 2, 2008, currently operates Meja Stage-I (2x660 MW) and posted a turnover of Rs. 5099 Crore in fiscal year 2024-25. The transaction will enable capacity expansion through Meja Stage-II (3x800 MW).
The board meeting commenced at 11:10 A.M. and concluded at 12:15 P.M.
Financial Details of MUNPL Investment
| Particulars | Details |
|---|---|
| Cost of acquisition | Rs.3173.67 Cr (proposed) |
| Percentage of shareholding acquired | 50% |
| Total Equity Commitment in MUNPL | Rs. 5,000 Crore |
The transaction is considered a Related Party Transaction, though no promoter, promoter group, or group companies have an interest in MUNPL. The acquisition is expected to be completed by 2029-30.
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