NTPC Green Energy : Cabinet Approves NTPC’s Investment in Green Energy

Rama Posted on: 2023-03-19 14:02:00 Viewer: 29 Comments: 0 Country: India City: Delhi

NTPC Green Energy : Cabinet Approves NTPC’s Investment in Green Energy NTPC Green Energy : Cabinet Approves NTPC’s Investment in Green Energy

Singrauli Mirror News : In a significant development, the Cabinet Committee on Economic Affairs (CCEA) has granted NTPC Limited an exemption from the extant guidelines of delegation of power to Maharatna CPSEs, allowing it to make investments beyond the prescribed limit in its subsidiary, NTPC Green Energy Limited (NGEL).

Investment Ceiling for NTPC’s Subsidiaries
The CCEA has also approved NGEL’s investment in NTPC Renewable Energy Limited (NREL) and its other Joint Ventures (JVs) and subsidiaries, subject to a ceiling of 15% of its net worth beyond the monetary ceiling of Rs 5,000 crore to Rs. 7,500 crore. This investment aims to achieve a target of 60 GW Renewable Energy Capacity by NTPC Limited.

India’s Low-Carbon Emission Path
India is committed to a low-carbon emission path while meeting its development goals. The country aims to reach 500 GW of non-fossil energy capacity by 2030. As a Central Public Sector Enterprise and the leading Power Utility of the Country, NTPC aims to add 60 GW of Renewable Energy Capacity by 2032. This will help the country achieve its target and move towards a larger goal of having ‘Net Zero’ emissions by 2070.

NGEL’s Journey towards Renewable Energy
NGEL is set to be the flag bearer of NTPC’s renewable energy journey. With 15 renewable energy assets of 2,861 MW operational or nearing Commercial Operation Date (COD), NGEL is expanding its renewable energy portfolio through NREL by participating in competitive bidding and multiple emerging opportunities in the green energy business.

Impact on India’s Global Image
The exemption given to NTPC will aid in improving India’s global image as a green economy. It will also decrease India’s dependency on conventional sources of energy by diversifying the country’s energy generation and reducing its coal import bills. Furthermore, it will help ensure 24/7 power supply to every corner of the country.

Generating Employment Opportunities
The Renewable Energy project will also generate direct and indirect employment opportunities for local people during the construction stage as well as during the Operations & Maintenance (O&M) stage.
The Cabinet’s decision to approve NTPC’s investment in green energy is a significant step towards India’s commitment to reducing carbon emissions and achieving its target of 500 GW of non-fossil energy capacity by 2030. This investment will create employment opportunities and diversify India’s energy generation, making it a leader in the renewable energy sector.

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