NTPC proposes to stop land acquisition for greenfield coal-based projects
In a big change in its business strategy, the country’s largest coal-fired power producer NTPC proposes to completely stop land acquisition for green field thermal projects and rather look for reducing its carbon footprint through aggressive renewable energy push.
“We have taken the decision not to acquire any further land for green field thermal projects in near future and the focus will be on reducing the carbon foot print,” NTPC chairman Gurdeep Singh said in a statement to the shareholders at a recently concluded AGM.
As part of its initiative to transform itself into a renewable player, NTPC has also decided to set up a separate green focused subsidiary.
