NTPC bags approval for INR 20,000 crore renewable energy investment

This will support the company’s 60 GW goal by 2032.

NTPC Limited has secured approval to increase its investment in renewable energy expansion to up to INR 20,000 crore from INR 7,500 crore.

In a statement, the Cabinet Committee on Economic Affairs said the amount will be invested in NTPC subsidiary NTPC Green Energy Limited, which in turn will be investing in NTPC Renewable Energy Limited (NREL) and its other joint ventures/ subsidiaries.

This will fuel the company’s goal to achieve 60 gigawatts (GW) of renewable energy capacity by 2032.

“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,” the government said.

NGEL has a portfolio of around 32 GW of renewable energy capacity, including 6 GW operational capacity, 17 GW contracted/ awarded capacity, and a pipeline of 9 GW.