NTPC Likely To Add 5,000 MW Of Renewable Energy Capacities Annually 

India’s largest power sector PSU (Public Sector Utility)-NTPC Limited, is likely to add around 4,000 MW to 5,000 MW of renewable energy annually to achieve its ambitious clean energy target. The PSU has targeted adding up to 60 Gigawatt (GW) of installed renewable power capacity by 2032.

However, in the short term, the power behemoth has planned to add up to 16 GW of renewable energy (RE) in the next three years. The company also seems to be confident of achieving the target. It has also planned to move towards this with an annual target of around 4 GW to 5 GW. These targets were recently discussed during the recent conference call of the company while discussing the latest Q4 financial results and earnings. 

“As far as the renewable side is concerned, I can quote a collective figure of close to 16 GW over the next three years, depending on the pace of implementation. So, 16,000 MW would be there. So, if you broadly divide it over three years, it would be around 4,000 MW to 5,000 MW. It will differ from a year-to-year basis,” one of the top officials from the NTPC management said in their conference call. 

He also added, “16 GW has clear visibility. This will be implemented by NGEL and NREL, and this capacity what we are saying is based on the tenders already won and the bilateral tie-ups. These are definite bilateral tie-ups which we have with different entities.

NTPC Green Energy Limited (NGEL) and National Renewable Energy Limited (NREL) are newly formed subsidiaries of NTPC which are expanding the clean energy projects of the company. As per the latest update, NTPC has a total operational RE capacity of 3.2 GW, while it has 20 GW of total RE capacity in the pipeline with different agreements. 

The management when asked about the impact of ALMM (Approved List of Module Manufacturers) scheme changes and the strategies accordingly, the top officials said that they are not yet looking at manufacturing. 

“So, we are looking at sourcing modules on a longer term, but I mean to answer your question, which you have been asking earlier also, we are not looking at manufacturing right now. But we are in the process of finalizing the bid process for long-term sources, maybe two or three years, so that we can tie up on a long-term basis.”

The management also claimed that they were looking at price-competitive strategies as of now for storage to ensure a round-the-clock supply of RE. “Right now, we are going with whatever storage is the most cost-competitive. So, the one we have right now is pump storage. Going forward, the bid we have issued for 9 GW hours, there again it’s technology agnostic. So, it will depend on what kind of bids we see, what the numbers are. Accordingly, we will keep on deciding.” the management said in the conference call discussion. 

NTPC works in different RE profiles ranging from ground-mounted solar, floating solar, wind energy, and Green Hydrogen. It also signed an agreement with Andhra Pradesh to develop a hydrogen hub at Pudimadaka in Vishakhapatnam. NTPC will use this facility to make hydrogen-related equipment, produce, and export Green Hydrogen, Green Ammonia, and Green Chemicals. 

The Indian power generator has also signed numerous MoUs with several agencies like Indian Army, Tripura government, HPCL, IOCL, NREL, and others to boost its energy portfolio.