Our Bureau
New Delhi
NTPC has shown its interest in moving to renewable energy and investing in that. This Wednesday, on July 16th, it was reported by the Union Minister Ashwini Vaishnaw that the Union Cabinet of India had granted approval to NTPC Ltd. to invest up to Rs. 20,000 crores in renewable energy.
This approval by the Union Cabinet comes at the perfect time for NTPC as it is looking to expand its operational green capacity. The operational green capacity of the NTPC currently sits around 6 GW and the company is looking to grow it further reaching around 26 GW in future. The company through this expansion is looking to reach a capacity of 60 GW by the year 2032.
Mr. Vaishnaw talked about how Prime Minister Narendra Modi is committed to move towards renewable energy and how the government is also continuously striving towards it. He stated that now NTPC’s proposal has been cleared to invest in renewable energy.
“The Prime Minister’s commitment to renewable energy is well known all over the world. We have achieved some of the goals in terms of renewable energy set for 2030 in 2025 itself. And now NTPC is free to invest up to 20,000 crore in renewable energy. This has been done to empower the company to invest in renewable energy,” the minister said.
On the other hand, the Neyveli Lignite Corporation (NLC) India Ltd. has also received the approval of Cabinet to invest up to Rs 7,000 crore into renewable energy. The Minister explained it as a move to grow the country’s green energy.
“This is a very pivotal decision to boost the growth of green energy in the country. NLC will undergo a re-structuring to bring all the renewable energy projects under it into one single subsidiary so that the efforts become more focused,” Ashwini explained.
