Govt Takes Important Decisions to Attract Investment in PSUs of Green Energy Sector

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) granted exemption to NTPC Limited from the extant guidelines of delegation of power to Maharatna CPSEs for making an investment in NTPC Green Energy Limited (NGEL), a Subsidiary Company of NTPC Ltd.

The exemption given to NTPC will aid in improving India’s global image as a green economy. It will also decrease India’s dependency on conventional sources of energy by diversifying India’s energy generation and will also decrease the country’s coal import bills. Further, it will also help in ensuring a 24×7 power supply to each and every corner of the country.

The Renewable Energy project will also generate direct and indirect employment opportunities for the local people at the construction stage as well as during the operations and maintenance Stage. CCEA also exempted NGEL’s investment in NTPC Renewable Energy Limited (NREL) and its other JVs or subsidiaries.

In line with its commitment to COP 26, India is working towards a low carbon emission path while meeting its development goals.  The country is aiming to reach 500 Giga Watt of non-fossil energy capacity by 2030.

As a Central Public Sector Enterprise and the leading Power Utility of the Country, NTPC through this investment in the Renewable Energy sector aims to add 60 Giga Watt of Renewable Energy Capacity by 2032. This will help the Country in achieving the aforesaid target and move towards the larger aim of having Net Zero emissions by 2070.

NGEL aims to be the flag bearer of NTPC’s renewable energy journey and presently has 15 Renewable Energy assets of two thousand 861 Mega Watt which are operational or nearing the Commercial Operation Date. Through its subsidiary NREL (NTPC Renewable Energy Limited), it is set to expand its Renewable Energy portfolio by participating in competitive bidding and multiple emerging opportunities in the green energy business.