NTPC Crosses Key Milestone of 1 GW Renewable Capacity

NTPC Ltd, the country’s largest power generator, has crossed the 1GW annual capacity in the renewable energy (RE) segment by adding 1074.59 MW RE capacity in FY23 taking the total NTPC non-fossil capacity to 9.41%.

With the successful commissioning of entire capacities of 150 MW & 90 MW Devikot Solar PV Projects at Jaisalmer, Rajasthan, w.e.f. 00:00 Hrs. of 13.12.2022, the standalone installed and commercial capacity of NTPC has become 58041.27 MW, while the group installed and commercial capacity of NTPC has become 70656.27 MW.

The 1 GW milestone is an important first step for the massive thermal player until recently. With a target of 60 GW of renewable capacity by 2032, NTPC has done well to adapt to the new realities of the market, and do it profitably. Its management has learnt quickly to be trusted as one of the key implementing agencies (besides SECI) for large central initiatives in the sector, with its recent large energy storage tenders especially key to establishing benchmarks on pricing as well as probable technologies for the country. Key landmarks within this journey have been the establishment of the largest floating solar plant of 100 MW in the country at Ramagundam, besides work starting on the 4750 MW Khevda solar park in Gujarat.

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As a listed PSU where the government has a stake of just over 62% besides shares held indirectly by other government controlled institutions, the firm also has a responsibility to its shareholders to deliver, and not blunder into unrelated diversifications. That’s something it has done well to avoid so far.

A strong balance sheet has made the generator a dependable principal for other renewable energy developers to work with, adding much needed stability to a market where payment delays are always a looming challenge. It is this strength and professionalism that has brought in additional responsibility to support the faster growth of the nuclear energy sector with the Nuclear Power Corporation of India in recent months.

Even the earliest push on green hydrogen viability and generation has been left to the power major, leading to it formally earmarking 5 GW of the planned 60 GW green capacity by 20232 to Green Hydrogen only.

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