The Cabinet Committee on Economic Affairs (CCEA) on Friday granted exemption to NTPC Ltd for making investment in NTPC Green Energy Ltd (NGEL), it’s wholly-owned subsidiary.
The CCEA also exempted NGEL’s investment in NTPC Renewable Energy Ltd (NREL) and its other joint ventures and subsidiaries, subject to a ceiling of 15 per cent of its net worth beyond the monetary ceiling of Rs 5,000 crore to Rs 7,500 crore, towards achieving a target of 60 GW renewable energy (RE) capacity by NTPC Ltd, official sources said.
The exemption given to NTPC will help 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.
