State-run power giant NTPC's board has approved an investment of Rs 97.85 billion for the 1,320 MW Stage-III expansion of its Talcher thermal power plant in Odisha, a source said.
The Talcher plant, one of the oldest and top performing power stations in the country, is situated in Angul district of Odisha.
The 1,320 MW expansion is a brownfield project. The plant has four units of 60 MW and two units of 110 MW. The existing capacity is operational.
"The board has approved the 2x660 MW - Stage III expansion of Talcher Thermal Power Station of NTPC at an investment of Rs 97.85 billion," the source said.
The company has a multi-pronged growth strategy, including capacity addition through greenfield projects, expansion of existing stations, joint ventures and acquisition of stressed assets.
During 2017-18, the NTPC Group contributed 23 per cent of the total electricity generated in India with 16 per cent share of the country's total installed capacity. The company has added 3,478 MW capacity in 2017-18.
NTPC's long-term corporate plan envisages becoming a 130 GW company by 2032.
The NTPC Group has total capacity of 53,651 MW from 21 coal-based, seven gas-based, 11 solar PV, one hydro, one small hydro, one wind and nine subsidiaries / joint venture power stations. It has 20,000 MW capacity coming up at multiple locations across the country.