NTPC okays Rs 12,532 cr investment for Odisha plant

State-run NTPC's Board on Friday approved an investment of Rs 12,532.44 crore for setting up 1,600 MW thermal power project in Odisha.

"The Board of Directors of NTPC have accorded an appraised current estimated investment approval for Darlipali Super Thermal Power Project, to be implemented in Odisha at an estimated cost of Rs 12,532.44 crore," NTPC said in a statement.

This approval is subject to environmental clearance.

This approved investment is more than the earlier estimated cost of the project due to increase in land compensation, a company official said.

The project requires approximately 1,600 acres of land.

It is linked to the Dulanga coal mine, with seven million tonnes capacity, in Odisha.

The company recently signed an initial agreement with the Geological Survey of India to set up a geothermal power project at Tattapani in Chhattisgarh.

NTPC's current installed generation capacity is 42,454 MW. The company plans to add about 20,000 MW by 2017.

It has about 1,500 MW of hydro power capacity under construction and operates about 4,000 MW of gas-based power plants in the country.