NTPC floats 100% arm to expand green footprint

NEW DELHI: India’s largest coal-burning power producer NTPC has floated a fully-owned subsidiary for investing in renewable energy, reaffirming the state-run utility’s intent to clean up its act as climate debate hots up.
C K Mondol, director (commercial) will head the subsidiary that has been registered with the Delhi and Haryana governments after the proposal for a subsidiary was approved by the government think-tank Niti Aayog and DIPAM (department of investment and public asset management).
The subsidiary will be the building block for NTPC’s green vision. The company’s ‘Brighter Plan 2032’ aims at ensuring decentralised, decarbonised and digitalised energy future based on TBL (triple bottom line) framework to set a new benchmark in sustainability.
NTPC expects renewables to account for 30 per cent, or 39 GW (giga watt), of the company’s overall capacity by 2032. The company’s vision is to have 30 GW solar, 2 GW of other renewable energy capacity, 5 GW of hydropower and 2 GW of nuclear energy by the target year.