State-owned power major NTPC has approved an investment of Rs 20,456.70 crore for the development of the 1,600 MW (2x800 MW) Lara Super Thermal Power Project Stage-III in Chhattisgarh.

The investment proposal was cleared by the company's Board of Directors at its meeting held on July 11, according to a regulatory filing. The project will be developed at an estimated cost of Rs 20,456.70 crore.

Earlier, on June 5, NTPC had invited bids from technology solution providers to enhance the operational flexibility of its sub-critical thermal power plants, enabling them to run efficiently at lower loads and support better integration of renewable energy into the power grid.