New Delhi: Hinting that India's largest power generator NTPC Limited is increasing the push on steering its portfolio, bulk of which comprises of thermal power plants, towards green energy, the Maharatna power PSU has announced another JV (Joint Venture) with EDMC (East Delhi Municipal Corporation) on Monday which will be responsible for setting up waste-to-energy projects. The announcement comes barely 10 days after it announced the setting up of a JV with ONGC (Oil & Natural Gas Corporation) for the Renewable Energy business.
"NTPC Limited (NTPC) has incorporated a Joint Venture Company with East Delhi Municipal Corporation (EDMC) with equity participation of 74:26 respectively, in the name of NTPC EDMC Waste Solutions Private Limited" with the Registrar of Companies, of Delhi & Haryana on June 1, 2020, to develop & operate state of the art/modern integrated waste management & energy generation facility," NTPC said in a regulatory filing to the stock exchanges on Monday.
Apart from EDMC, NTPC has also collaborated with municipal corporations of Kawas, Varanasi, Indore and Mohali for setting up waste-to-energy projects.
The waste-to-energy project will use municipal solid waste from EDMC and other zones for power generation. EDMC is yet to decide the location of the project. However, the project will be set up on a Build Own Operate (BOO) model. The JV board will be structured on the basis of the ratio of the equity holding of NTPC and EDMC. To start with, the board will have three directors nominated from NTPC and one director from EDMC.
NTPC Limited currently owns 24 thermal power stations and nine coal-based JVs and subsidiaries with a total installed capacity of 51104 MW. The power PSU's renewable energy portfolio consists of 11 solar power projects, one wind and one small hydropower project. The total installed renewable energy capacity of NTPC stands at 928 MW as of now. It has 18 solar projects with a capacity of 2298 MW under implementation as of now.