NTPC to add 16,500 MW of RE capacity between FY23 and FY27, says RK Singh

• NTPC plans to add 2,500 MW in FY23, 3,000 MW in FY24, 3,500 MW in FY25, 3,500 MW in FY26 and 4,000 MW in FY27

• The minister also informed the Rajya Sabha that NTPC Limited plans to double electricity generation from RE sources by FY22

New Delhi: State-run power behemoth NTPC Limited is going to add 16,500 MW of renewable energy (RE) between FY23 and FY27, said Power Minister RK Singh on Tuesday. In a written response to a question in the Rajya Sabha, Singh said that the target includes the capacity addition plan by NTPC RE Ltd, a subsidiary of NTPC Limited which was incorporated in 2020. The Maharatna company, which has been involved in the generation of electricity from coal for decades, is now fast pivoting towards renewable energy. 

NTPC RE capacity addition targets

According to the information shared by Singh in the Upper House of the Parliament, NTPC plans to add 2,500 MW in FY23, 3,000 MW in FY24, 3,500 MW in FY25, 3,500 MW in FY26 and 4,000 MW in FY27. The total adds up to 16,500 MW. In 2020, the company had announced its plans to expand its RE portfolio to 32 GW by 2032, which will be nearly 25 percent of its overall capacity.

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NTPC to double RE electricity generation in FY22

The minister also informed the Rajya Sabha that NTPC Limited plans to double electricity generation from RE sources by FY22. The Maharatna PSU has generated 1,211 Million Units (MU) of electricity from RE sources until January 29 in this financial year. In FY20, the company had generated 1,203 MU of electricity from RE. "Green energy estimated to be generated by NTPC is approximately 2,500 Million Units (MUs) by the end of the next fiscal year," the minister said.

The backdrop

In an investor presentation in August 2020, NTPC had said that it is currently implementing 1,500 MW solar power projects in 10 countries through the International Solar Alliance (ISA). The company is also actively looking at East Asia, Middle East and Africa for business opportunities, NTPC had said. The total installed capacity of NTPC Group stands at 63,925 MW. Its portfolio consists of 70 power stations, comprising of 24 Coal, seven combined cycle gas/liquid fuel, 1 hydro, 13 renewables, along with 25 subsidiary and JV power stations.

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