The NTPC Group has set a goal of 60 GW of renewable energy capacity by 2032. NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC, has signed a Memorandum of Understanding (MOU) with the Government of Rajasthan to develop a 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan.
The MOU signing ceremony took place in Jaipur on July 1, 2022, in the presence of Rajasthan's Energy Minister, Shri Bhanwar Singh Bhati. Sh. Bhaskar A. Sawant, Principal Secretary (Energy), Government of Rajasthan, and Shri Mohit Bhargava, Chief Executive Officer, NTPC REL signed the MOU. T. Ravikanth, Chairman of RRECL, Anil Dhaka, MD of RRECL, Rajiv Gupta, CGM of NTPC REL, and other officials from Government of Rajasthan and NTPC REL graced the event.
The signing of the MOU is another step toward NTPC's Renewable Capacity Addition targets. NTPC REL has won 4 GW of renewable energy capacity in less than two years by bidding in various tenders at various stages of implementation. Furthermore, NTPC REL is developing a 4.75 GW UMREPP in Rann of Kutch, Gujarat, and has entered into a Joint Venture Agreement with DVC to develop RE Parks and Projects.
Renewable energy, also known as clean energy, is derived from naturally replenished sources or processes. For example, sunlight and wind continue to shine and blow, even though their availability is dependent on time and weather.
About NTPC Renewable Energy Ltd:
NTPC Renewable Energy Ltd. (NTPCREL), founded on October 7, 2020, is a wholly-owned subsidiary of NTPC Limited (India's largest power utility). NTPCREL was formed with the goal of accelerating the company's renewable energy growth and increasing its green footprint across the country, offshores, and internationally.
NTPCREL is undertaking large Solar, Wind, and Hybrid Projects across the country, as well as developing Gigawatt scale Renewable Energy Parks and Projects in various states under the Government of India's UMREPP (Ultra Mega Renewable Energy Power Park) scheme. Green Hydrogen Mobility and ESG projects are also being pursued in addition to this.
