India’s NTPC May Expand Renewable Energy Plans
- Jun 16, 2016-
India’s largest power generation is looking at possibilities to expand its renewable energy capacity addition plan.
NTPC Limited plans to boost its power generation portfolio by revisiting its renewable energy business plan. The company expects to add 1 GW of wind projects and 10 GW of solar projects to its current renewable energy portfolio.
According to the company’s senior executive, the new plan will be in line with the country’s aim of generating 175 GW renewable energy by 2022. The company envisaged 128 GW of power generation by 2032 out of which 28% is expected to come from renewable energy. The company’s current power generation capacity stands at 47 GW of which renewable energy constitutes 11%.
NTPC would raise Rs 20,000 crore (US$3 billion) this fiscal to fund its expansion plan. Out of this Rs 6,000-7,000 crore (US$0.9-1.1 billion) would come from international bond markets and the balance would be sourced from rupee loans and bonds in India.
NTPC currently has 24 GW of projects under various stages of development. Recently, NTPC has invited bids for 625 MW of solar PV at the Ananthapuramu Ultra Mega Solar Park in the state of Andhra Pradesh. The solar power park will eventually have an installed base of 1.5 GW and 200 MW is already operational.
NTPC Limited has been chosen to set up a number of solar power parks. The company has a pipeline of 3.5 GW of solar power capacity. It will set up UMPPs in Telangana, Uttar Pradesh, Odisha and Madhya Pradesh.