NTPC To List its RE Arm, Plans to Add 60 GW Capacity

State-run NTPC intends to list its arm NTPC Renewable Energy Ltd to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, a top company official said. NTPC has become India’s first energy company to declare its energy compact goals as part of the UN High-level Dialogue on Energy (HLDE). NTPC looks to install 60 GW of renewable energy capacity by 2032.

The country’s largest power producer is also aiming a 10 per cent reduction in net energy intensity by 2032.

Taking part within the digital BloombergNEF (BNEF) Summit, NTPC Chairman and Managing Director Gurdeep Singh mentioned, “We should always not concentrate on a technique of elevating funds. We need to quickly go to public for elevating funds.” Singh was speaking about elevating funds for NTPC’s bold RE goal and harassed that the corporate would add 7-8 GW RE yearly, which might not be an uphill activity for it. He exuded confidence that NTPC would quite be exceeding its goal of 60GW of RE by 2032.

He also suggested that blended finance could be used for financing the capacity addition while speaking about creating assets and roping in other investors for meeting green energy targets.

Last year in October, state-owned NTPC incorporated a wholly-owned subsidiary for its renewable energy business in the name of NTPC Renewable Energy Ltd.

Source: PTI