Adani Power has surged nearly 50% in 2026 to become India’s most valuable listed power company, overtaking NTPC. Investors point to stronger earnings, rising electricity demand, high plant load factors, new tariff-backed power purchase agreements, and growing institutional ownership. The rally looks like a re-rating story, though valuation and downside risks still linger.
NTPC will submit its first nuclear project feasibility study to India’s Department of Atomic Energy, aiming to unlock approvals for standalone nuclear projects. The power producer targets 2 GW of nuclear capacity by 2032 and is actively scouting locations, including in Bihar and other states, to support its expansion plans.
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Mitsubishi is preparing to exit an incomplete NTPC power project in West Bengal, setting off talks over what penalty it should pay for withdrawal. Mitsubishi has put forward an offer tied to penalties, while NTPC is pushing for a higher settlement amount. Negotiations are ongoing as both sides aim to agree on the final financial terms.
Futures open interest in four NSE F&O stocks jumped sharply on April 27, pointing to increased trading intensity. Sun Pharma led the rise, while NTPC was among the names seeing higher open positions. Analysts read the uptick as stronger market participation and improved sentiment, as traders added risk and built exposure into futures contracts.
Vedanta Chairman Anil Agarwal said the NTPC-GE joint venture NGSL had full responsibility for operations and maintenance of the Chhattisgarh power plant where an explosion killed 25 workers on April 14. Agarwal compared the arrangement to vehicle owners trusting drivers with safety, implying accountability lay with the contractor rather than Vedanta directly.
State-owned NTPC is exploring a major nuclear expansion in Bihar’s Banka district, planning two 700 MW units after completing a feasibility study. The project may require an investment of around Rs 25,000 crore, with the Bihar government promising full support. The plan supports India’s roadmap toward 100 GW nuclear capacity by 2047 and NTPC’s own 2 GW target by 2032.
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NTPC is drawing up an ambitious green hydrogen roadmap to diversify into clean energy, but early movers face sharp headwinds. Technology uncertainty, high pricing, limited local electrolyser manufacturing and still-maturing regulations could slow scale-up and raise costs. The bet hinges on how quickly costs fall and standards solidify enough for projects to move beyond pilots.
NTPC argues it is building a “bridge” between dependable coal generation and future renewables, insisting the transition won’t happen overnight. The stance raises a pointed question: can a company expanding major coal capacity truly position itself as a clean energy leader, or is it simply prolonging fossil dependence while renewables remain a long-term promise?
NTPC Green Energy Ltd (NGEL), a NTPC group firm, will begin supplying 150 MW of solar power from a Rajasthan project on April 18, 2026. The move comes from a 300 MW venture called Project Sixteen Renewable Power Private Ltd. With this launch, NGEL’s total installed capacity is expected to rise to 10,276 MW, marking a key growth milestone.
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