Cabinet Grants Enhanced Investment Powers to NTPC for Renewable Energy Capacity Addition

The Cabinet Committee on Economic Affairs has granted enhanced delegation of power to NTPC Limited for making investment in NTPC Green Energy Limited (NGEL), a Subsidiary Company, and subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/subsidiaries. The enhanced delegation of power is up to an amount of Rs.20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032. This move will facilitate accelerated development of renewable projects in the country, strengthen power infrastructure, and ensure investment in providing reliable, round-the-clock electricity access across the nation. It will also generate direct and indirect employment opportunities to the local people at the construction stage as well as during the O&M stage, and promote employment and socio-economic development of the country. NTPC aims to add 60 GW of Renewable Energy Capacity by 2032 to help the Country in achieving its target of 500 GW of non-fossil energy capacity by 2030 and move towards 'Net Zero' emissions by 2070.