NTPC forms renewable energy subsidiary

• 3 years ago (2020-10-09)
• David Flin

Asia 848 Renewables 751

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India’s state-run power producer NTPC has announced that it has formed NTPC Renewable Energy, a wholly-owned subsidiary, to focus on its green energy business. NTPC plans to increase the share of renewable energy in its generation portfolio.

Currently, NTPC has 62,910 MW of total installed capacity, of which 1070 MW is renewable energy-based plants, with another 2348 MW of renewable energy under construction. NTPC has also recently floated separate tenders to acquire 1000 MW of operational solar plants, and build a 1070 MW solar power plant in Rajasthan. Gurdeep Singh, Chairman and Managing Director of NTPC, said: “We have taken the decision not to acquire any further land for green field thermal projects in the near future and the focus will be on reducing the carbon foot print.”

NTPC is also in discussions with the state governments of Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, and Andhra Pradesh for allocation of land parcels for projects under the Ultra Mega Renewable Energy Power Parks scheme.

NTPC plans to have a total power capacity of 130 GW by 2032, with 30 per cent of this being non-thermal energy. It plans to have, by 2032, 32,000 MW of renewables, 5000 MW of hydro, and 2000 MW of new nuclear power plants.