Centre Grants NTPC To Invest in NTPC Green Energy

The central government authorizes NTPC to invest over the ceiling of 30 percent of its total valuation in its subdivision NTPC Green Energy Ltd (NGEL).

March 20, 2023. By EI News Network

The central government authorizes NTPC to invest over the ceiling of 30 percent of its total valuation in its subdivision NTPC Green Energy Ltd (NGEL).

NTPC's total valuation remained at Rs 1.28 lakh crore, according to its annual report for the fiscal year 2021-22.

This assumes significance provides the NTPC's aspirational objective of 60 GW of renewable energy by the year of 2032.

It has also released NGEL's investment in NTPC Renewable Energy Ltd (NREL) and its other joint ventures or subsidiaries, contingent upon a ceiling of 15 per cent of its net worth as well as the monetary ceiling of Rs 5,000 crore to Rs 7,500 crore, towards attaining a goal of 60 gigawatts of renewable energy capacity by parent NTPC Ltd.

The country is aspiring to achieve 500 GW of non-fossil energy potential by the year of 2030.

As per the statement, NGEL has about 15 green assets of 2,861 MW, which are operational or nearing commercial operation date (COD) and through its subsidiary, NREL (NTPC Renewable Energy Ltd) is put forth to expand its renewable energy portfolio by partaking in competitive tendering and various emerging opportunities in the green energy business.

The exemption provided to NTPC will help in upgrading India's global reputation as a green economy, in addition to that it will also lessen India's dependency on non-renewable sources of energy by transforming its energy production and will also reduce the nation's coal import bills.

However, it will also assist in make sure a continual power supply to throughout the nation.

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Ceiling of 30 percent of its total valuation