(ET)
In a big change in its business strategy, the country’s largest coal-fired power producer NTPC proposes to completely stop land acquisition for green field thermal projects and rather look for reducing its carbon footprint through aggressive renewable energy push.
“We have taken the decision not to acquire any further land for green field thermal projects in near future and the focus will be on reducing the carbon foot print,” NTPC chairman Gurdeep Singh said in a statement to the shareholders at a recently concluded AGM.
As part of its initiative to transform itself into a renewable player, NTPC has also decided to set up a separate green focused subsidiary. By 2032, state-owned NTPC plans to add 32 GW of renewable generation capacity to its portfolio through organic and inorganic routes. Non-fossil fuel-based generation capacity will make up nearly 30 per cent of its portfolio, which, at present, is less than 10 per cent. Short term target is to reach 10 GW of renewable capacity up to 2022.
