Govt allows NTPC to invest beyond prescribed limit in NGEL
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has granted exemption to NTPC Limited from the extant guidelines of delegation of power to Maharatna CPSEs for making investment in NTPC Green Energy Limited (NGEL), a subsidiary company of NTPC Ltd.
The CCEA also exempted NGEL’s investment in NTPC Renewable Energy Limited (NREL) and its other JVs/subsidiaries subject to a ceiling of 15% 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 Limited.
NGEL presently has 15 renewable energy assets of 2,861 MW which are operational or nearing commercial operation Date and through its subsidiary NREL (NTPC Renewable Energy Limited) is set to expand its RE portfolio by participating in competitive bidding and multiple emerging opportunities in green energy business.
