Delhi, 16 July (H.S.): The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved an increased delegation of powers to NTPC Limited for investing in NTPC Green Energy Limited (NGEL) and subsequent investments in NTPC Renewable Energy Limited (NREL) and its subsidiaries. The investment limit has been raised from Rs. 7,500 crore to Rs. 20,000 crore to support renewable energy capacity addition, aiming for 60 GW by 2032. This initiative will expedite the development of renewable projects, enhancing power infrastructure and securing reliable electricity access nationwide.

The renewable energy initiatives will create direct and indirect job opportunities during construction and operational stages, benefiting local suppliers, enterprises, and fostering entrepreneurship. India has notably reached 50% of its electricity capacity from non-fossil sources, surpassing its targets for the Paris Agreement. The country aims for 500 GW of non-fossil energy by 2030, with NTPC set to contribute significantly towards achieving 60 GW of renewable capacity.

NGEL, as NTPC's subsidiary, focuses on renewable energy growth through organic and inorganic means, with a portfolio of approximately 32 GW, including 6 GW operational capacity and 17 GW contracted. Strategic partnerships with state governments and CPSUs are also part of NGEL's development strategy.

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Hindusthan Samachar / Jun Sarkar