NTPC Ltd gets enhanced delegation of power for investing in subsidiaries and other JV
NTPC receives approval to invest 20000 crore via NGEL to achieve 60 GW renewable energy target by 2032
NTPC gets approval to invest 20000 crore in renewable energy through NGEL
Power PSU, NTPC ltd has been granted a delegation of power from the extant guidelines of delegation of power to Maharatna CPSEs for making investment in NTPC Green Energy Limited (NGEL), a Subsidiary Company. Subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/ subsidiaries beyond earlier approved prescribed limit of Rs.7,500 crore up to an amount of Rs.20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032.
The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country and will be strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation.
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The renewable Energy projects will also generate direct and indirect employment opportunities to the local people at construction stage as well as during O&M Stage.
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 which will help the Country in achieving the aforesaid target and move towards larger aim of having ‘Net Zero’ emissions by 2070.
NGEL, the subsidiary of NTPC Group works towards renewable energy capacity addition through organic and inorganic growth. The organic growth is proposed to be done primarily through NGEL’s wholly owned subsidiary NREL.
NGEL has also formed curated partnerships with various State Governments and CPSUs for RE project development.
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