(CNBC)
State-run power giant NTPC Ltd on Friday (April 19) said its fully owned subsidiary NTPC GreenEnergy Ltd (NGEL) and Indus Towers Ltd (ITL) have signed a memorandum of understanding (MoU), to address the need for pacing green energy objectives.
The MoU is to explore the joint development of grid-connected renewable energy-based power projects including solar, wind, energy storage etc or solutions thereof, according to a stock exchange filing.
Indus Towers aims to expand its renewable energy portfolio in a phased manner to giga watt scale capacity, for its business operations spread across the country, as a part of its net zero commitments.
NTPC is India’s largest power utility with the core business of power generation having a total installed capacity of 76 GW. NTPC Group has ambitious plans of 60 GW of RE capacity by the year 2032 and currently, it has 3.5 GW of installed RE capacity and 28+ GW under pipeline.
