State-run, NTPC has said that India needs to increase power production to achieve over 8 per cent economic growth, media reported.
Commenting on the issue, NTPC Chairman & Managing Director A K Jha told the media, "If we want to increase the economic growth rate of the country to 8 per cent then we have to increase production of power."
"We don't think, we will face any such situation. Secondly, all our plants have power purchase agreements. Thus there is no risk related to cost recovery because our plants are backed by power purchase and fuel supply agreements," he added.
Currently, the company has a power generation capacity of 23,004 MW which is under different phases of completion.
NTPC has planned to build generation capacity of 128 GW by 2032 with a lot more focus on renewable energy. It plans to build a portfolio of 10 GW of Solar PV capacity in next 5 years.
Meanwhile, shares of the company were trading at Rs 125 a piece, down 1.26 per cent from the previous close at 11:03 hours on BSE.