NEWS

India's national power utility NTPC has announced that it will halve its coal generation capacity over the next decade, while increasing renewable energy generation capacity. NTPC plans to take its green energy subsidiary NTPC Renewable Energy Ltd. public within the next 18 months and it will invest 2.5 trillion rupees to increase renewable energy generation capacity to fill the gap caused by the reduction of coal power.

NTPC has committed to achieving 60 GW of installed renewable energy capacity by 2032, when the total installed capacity will reach 132 GW, which is a huge increase from the previously planned 30 GW of renewable energy capacity to be built by 2032.

NTPC's goal is to expand clean energy capacity by adding 4,000 MW per year to 8,000 MW by 2032, while also reducing net energy intensity by 10 percent.

The company currently has 66 GW of generation capacity, of which 54 GW or 82% is coal fired. NTPC is exploring the development of large offshore wind power plant with joint ventures and oil and gas companies signed last year. In view of the capital-intensive nature of offshore wind power projects, the Indian government is considering to provide viability gap funding for offshore wind power projects. India has set a target of building 30 GW of installed offshore wind power capacity by 2032.
NTPC has announced a plan to set up a 5 GW solar park in Gujarat for 250 billion rupees and drawn a similar plan in Rajasthan. The renewable capacity increase program will include the establishment of solar, wind, hydro, biomass and storage plants either on its own or under agreements with various companies/states.

Currently, NTPC has 1,173 MW of renewable energy projects with 2,300 MW underway.