The Cabinet Committee on Economic Affairs has approved a massive investment of Rs 20,000 crore in the National Thermal Power Corporation of India (NTPC). The amount is sanctioned by the centre for boosting the renewable energy production by NTPC via its fully owned subsidiary, NTPC Green Energy.
Furthermore, the Cabinet Committee on Economic Affairs also approved the NLC India exception request for investment of Rs 7,000 crore in its subsidiary company. After the approval, NCL India can now invest about Rs 7,000 crore in NLC India Renewables Limited (NIRL), a wholly owned subsidiary of the company, to expand its renewable energy projects.
NTPC Green and NLC India Renewables’ capacity
With the latest big investment from the centre, NTPC is targeting a 60 GW renewable power capacity by 2032. The additional investments in NTPC Green and NCL India Renewables are expected to increase the renewable energy capacity of both companies by developing their own green energy projects as well as increasing the contract capacity.
NTPC Green Energy has commissioned a total of 34 renewable energy projects till now. The company has projects in solar energy, wind energy, hybrid energy, and green hydrogen projects. The company also has energy storage facilities.
NTPC Green has a total capacity of 32 GW under its portfolio. The company has a 6 GW operational capacity and a 17 GW capacity sourced from a contractual private supplier. Furthermore, the company has a pipeline capacity of 9 GW.
Whereas, NCL India currently operates a total of 7 renewable energy projects, which have a combined capacity of 2 GW. Several projects are currently operational, while some are close to commencing commercial operations.