New Delhi: NHPC Limited, India's leading hydropower company, has committed to achieving a renewable energy capacity of 16,700 MW by 2030. This ambitious target was announced during the 4th Global RE-INVEST summit, which has been inaugurated by Prime Minister Narendra Modi on September 16, in Gandhinagar, Gujarat.
NHPC Limited's Chairman and Managing Director (CMD) RK Chaudhary presented the company's commitment through Letters of Commitment to the Minister of New and Renewable Energy Pralhad Joshi during the event’s inaugural session. Along with its renewable energy target, NHPC plans to produce 500 metric tons of Green Hydrogen annually by 2030. This initiative aligns with India’s national goal of achieving 500 GW of non-fossil fuel electricity capacity in the coming years.
To support these objectives, NHPC has proposed a significant investment of Rs 80,261 crore for the development, construction, and commissioning of renewable energy projects. Additionally, Rs 450 crore will be allocated toward achieving the Green Hydrogen production target. The company’s projects are expected to create over 20,000 job opportunities during the construction and operational phases.
In keeping with its commitment to social responsibility, NHPC will also implement various corporate social responsibility (CSR) initiatives aimed at supporting local communities and contributing to the economic development of the regions where its projects will be undertaken.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)