NTPC forms renewable energy subsidiary
State-run power producer NTPC said on Thursday that it has incorporated NTPC Renewable Energy, a wholly owned subsidiary, which will focus on its green energy business. The decision of setting up a subsidiary for renewable energy comes at a time when the company, by name and predominantly a thermal player, plans to increase the share of renewable energy in its generation portfolio.
The Department of Investment and Public Asset Management and Niti Aayog had approved the formation of the separate renewable energy unit in August. Currently, the total installed capacity of the power behemoth stands at 62,910 mega-watt (MW), comprising 1,070 MW of renewable energy-based plants. Another 2,348 MW of renewable energy units are under various stages of construction. Also, NTPC has recently floated separate tenders to acquire 1,000 MW of operational solar plants and build 1,070 MW solar plant in Rajasthan.
