- NTPC has plans to list its green energy subsidiary — NTPC Renewable Energy Ltd — in 18 months
- NTPC is also looking to venture into wind and hybrid power projects and storage
New Delhi: State-run NTPC Ltd has plans to halve thermal power generation in its energy portfolio by 2032, and increase the share of renewable energy (RE) from the current 1 GW to 60 GW. At a recent conference call with investors, NTPC’s top management said that the thermal power utility has not changed the overall capacity addition plan for 2032 — which still stands at 130 GW. But the company has only doubled the RE installation target for the said period from 32 GW to 60 GW. This effectively means that by 2032, if NTPC manages to install 60 GW of RE, the share of coal-based power in its portfolio would reduce by half. Currently, out of a total installed capacity of 66 GW, the share of coal-based power in NTPC’s energy portfolio is 54 GW, which is around 82 percent.
“NTPC group, being a leader in the Power Sector, has strong commitment towards Renewable Energy and would be targeting RE capacity of 60 GW by FY32… We have not changed our total capacity plan of 130 GW by 2032 so far because we are waiting for the study of the constituted committee under CEA with the Government of India to look at the demand and supply projections. Once that comes in maybe in a year or so, we will look into our number and accordingly restructure it,” one of NTPC’s top officials told investors.
NTPC to list NTPC Renewable Energy Ltd in 18 months
The top brass also said that the thermal power behemoth has plans to list its green energy subsidiary — NTPC Renewable Energy Ltd — in 18 months. Elaborating on the short-term targets for achieving 60 GW RE installation by 2032, the top officials said that NTPC plans to install 3 GW of RE in FY22, 8 GW in FY23, 14 GW by FY24.
NTPC looking to expand into wind, hybrid power projects, storage
In addition to expanding its solar power portfolio, NTPC is also looking to venture into wind and hybrid power projects and storage. “Yes. We are looking at wind also as well as hybrid and storage. These are things, which will depend on how many bids do come out. Therefore, depending on that, we are working on this side as well and we are trying to tie up with government for parcels of land, which have a reasonable or decent wind potential,” said one of the top officials.
NTPC’s installed RE capacity today is 1,365 MW and the capacity under construction is 3,019 MW. “All of these have PPAs, except 125 MW. The capacity under tendering does not have a PPA right now,” said the top brass.
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