NTPC Group, which aims to install 60 GW of renewable energy capacity by 2032, has revealed its total RE portfolio has exceeded 20 GW with various agreements. This comprises 3.3 GW operational, 4.6 GW under construction, and a balance of 12.6 GW for which planning and implementation is in progress.
For the 4.6 GW under execution, power purchase agreements (PPAs) have already been signed, and construction contracts awarded. For another 12.6 GW in the pipeline, it has either won the bids, received the letter of award, signed PPA, joint venture agreement, or term sheet, or received the consent.
NTPC said this collective capacity of close to 16 GW would come up over the next three years, depending on the pace of implementation. This will include around 12 GW of ground-mounted solar, around 1 GW of floating solar, and 3 to 4 GW of wind.
NTPC targets to be a 130 GW company by 2032, with half its installed diversified fuel capacity through RE.
To diversify its RE portfolio, NTPC is entering hydrogen and energy storage solutions in a big way. To this effect, it has started work for developing a Hydrogen Hub at Pudimadaka in Andhra Pradesh. The project will involve the establishment of a manufacturing facility for hydrogen-related equipment, production and export of green hydrogen, ammonia, and green chemicals. In addition, NTPC has signed an agreement with Indian Army to set up green hydrogen projects in army establishments. It has also launched a 9 GWh storage tender.
NTPC Ltd completed the consolidation of its renewable energy (RE) portfolio under one umbrella entity, NTPC Green Energy Ltd, in February this year. The transactions comprised the transfer of 15 RE assets and the transfer of 100% equity shareholding of NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC.
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