Govt allows NTPC to invest up to Rs 20,000 crore in renewable energy

New Delhi: The government Wednesday permitted state-run NTPC to invest up to Rs 20,000 crore for renewable energy capacity addition to achieve 60 GW capacity by 2032.

I&B Minister Ashwini Vaishnaw shared details about the decision taken at the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

The CCEA has enhanced delegation of power to NTPC Ltd to invest in NTPC Green Energy Ltd (NGEL) and subsequently, NGEL investing in NTPC Renewable Energy Ltd (NREL) and its other JVs/subsidiaries up to Rs 20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032.

The earlier approved prescribed limit for NTPC was Rs 7,500 crore.

The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country, an official release said.

The move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation, it said.

PTI

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