NTPC has incorporated a wholly-owned subsidiary in the name of NTPC Renewable Energy to undertake renewable energy business.
In August 2020 NTPC had received approval from Niti Aayog and the Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business.
The creation of the new subsidiary comes at a time when NTPC is targeting generation of nearly 30 percent or 39 GW of its overall power capacity from renewable energy sources by 2032.
This is also consistent with India's ambitious target of having 175 GW clean energy by 2022. NTPC is planning to have 10 GW solar energy by 2022, which entails an investment of around Rs 50,000 crore.
With the incorporation of the new subsidiary, it will be easier for NTPC to achieve its goal of pushing renewables in the country.
NTPC has planned to be a 130 GW company by 2032 with diversified fuel mix and a 600 BU firm in terms of power generation.
The company is aiming to have 30 GW of solar and two GW of other renewable energy sources based power generation capacity by 2032. Besides, it will have five GW hydropower and two GW nuclear energy by 2032, taking the total clean energy capacity to 39 GW.
The non-fossil, fuel-based capacity would achieve a share of 30 percent and thermal-based generating capacity share would be 70 percent by 2032.
The share of renewable energy (including hydro) will be 28 percent. NTPC is targeting a market share of 25 percent in ancillary services and storage by 2032.
It is also eyeing 10 percent of the estimated market share for supply of electricity in e-mobility business.
The present installed capacity of NTPC Group is 62.9 GW (including 11.75 GW through JVs/subsidiaries) comprising 45 NTPC stations and 25 Joint Venture stations (9 coal-based, four gas-based, eight hydro, one small hydro two wind and one Solar PV).
The group has over 20 GW capacity under construction, including five GW renewable energy projects.
