State-run power giant NTPC Ltd's board has approved an investment of Rs 11,843.7 crore for the 1,320 (2x660) MW Stage-III expansion of its Talcher thermal power plant in Odisha.

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The Talcher plant is one of the oldest and top-performing thermal power stations in the country and is situated in the 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 Talcher project was set up by the Odisha government, stage-I (240 MW) was commissioned in 1968, and stage-II (220 MW) in 1982. However, the NTPC acquired it in 1995.

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Back in 2010, NTPC proposed to expand the capacity of the station and install two units of 660 MW each. The state-designated agency, GRIDCO Ltd, promptly signed a power purchase agreement (PPA) with NTPC in December 2010 for 660 MW. The expansion project also got the approval of the state government in February 2020. However, the execution of the project was delayed due to the approval.

NTPC reported a 15 percent increase in consolidated net profit to Rs 3,977.77 crore in the June quarter on the back of higher income. The consolidated net profit of the company in the quarter that ended on June 30, 2021, was Rs 3,443.72 crore.

Its total income rose to Rs 43,560.72 crore in the first quarter of the current fiscal from Rs 30,390.60 crore in the same period of the last year. In the June quarter, NTPC's gross power generation was at 86.88 billion units compared to 71.74 billion units in the same period a year ago.

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NTPC is the country's largest power utility with an installed capacity of 69,134.20 MW, including joint ventures.

(Edited by : Shoma Bhattacharjee)