NTPC Aims At 32 GW Renewables Capacity

India’s Largest Utility NTPC’s Corporate Plan For 2032 Targets 32 GW Of Installed Renewable Energy Capacity
07:21 PM (Beijing Time) - 24. March 2017
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A diversified utility, NTPC from India wants to have a cumulative installed capacity of 130 GW by 2032 with 32 GW coming from renewables under its Corporate Plan. It has not revealed how much of the renewables should come from solar. (Photo Credit: NTPC)

Key Takeaways

  • National Thermal Power Corporation's (NTPC) corporate plan targets 32 GW of installed capacity through renewable sources by 2032
  • The cumulative power generation capacity is targeted to reach 130 GW by 2032
  • NTPC launched Green Masala Bonds last year through which it garnered 20 billion INR ($305.62 million)
  • Proceeds from the bonds will be used to finance renewable energy projects

By 2032, Indian utility National Thermal Power Corporation (NTPC) plans to have installed 32 GW of renewable energy capacity. State-owned NTPC has shared this information in its Corporate Plan that was prepared by Piyush Goyal, the Minister for Power Coal, Mines, New & Renewable Energy (MNRE).

In August 2016, MNRE was reported to be working on a future strategy and increase the share of renewables in its expansion plan (see NTPCs Ambitious Renewables Plans). Under the country’s National Solar Mission (NSM), NTPC is facilitating the installation of 15 GW of PV across the country. Individually, it is also striving to set up solar power capacity of 10 GW. The idea is to revise this number.

NTPC’s cumulative solar power capacity came to a total of 565 MW with the commissioning of 20 MW of the 260 MW capacity it is developing at Bhadla Solar Park in Rajasthan (see 20 MW More PV Online At Bhadla).

As per information available on NTPC’s website, the utility wants to become a 130 GW company by 2032 in line with its Corporate Plan.

The interest in renewables also saw NTPC launching Green Masala Bonds in August 2016 (see NTPC Issues Green Masala Bonds). These are listed on the Singapore and London Stock Exchanges. The company has raised 20 billion INR ($305.62 million) from these bonds, stated Goyal in a written reply in the Lower House of Indian Parliament. It is part of its $4 billion medium term note program. Proceeds from these bonds will be used to finance renewable energy projects.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani