NTPC Looks for Nuclear Power Addition; Bullish on Renewable Energy

Power conglomerate NTPC has announced in its 18^th Analysts & Investors Meet that the company is foraying into nuclear power while maintaining its thrust on the renewable sector. Chairman and Managing Director, Gurdeep Singh, said, “Discussions are underway for adding the nuclear capacity. This is the new thing that you would probably be hearing that we are bringing this and we are seriously thinking on this.”

Renewable Run to Continue

The CMD said that the NTPC commissioned India’s largest floating solar plant of 100 MW at Ramagundam and second largest of 92 MW in Kayamkulam. NTPC has also built the third largest floating solar plant of 25 MW at its Simhadri plant.

“Work at the largest energy park at Khavda which is going to be 4750 MW in Gujarat has started. We signed the MoU with the Government of Rajasthan for the allocation of land parcel for setting up of an aggregate renewable capacity of 10 GW,” said Singh while highlighting its renewable plans.

It was shared in the meet that NTPC added 502 MW capacity last year from renewable sources of energy. NTPC RE obtained the highest domestic credit rating of AAA within one year of its incorporation. The company also informed that 19 GW of Ultra Mega Renewable Energy Power Plants are in various stages of development as per plans. It has also invited bids for 3000 MWh for energy storage system (ESS) and 500 MWh for battery based energy storage system (BESS).

NTPC wants to install RE capacity of 60 GW by 2032. It currently has 2.02 GW installed, 4.09 GW under construction, 2.21 GW is near construction and 3.22 GW is under tendering, said the power producer.

Gurdeep Singh also held that NTPC is working on multiple fronts and multiple models to realize the targeted capacity additions in renewables to supply the commercial and industrial consumers with renewable energy round the clock.

He added, “We are also progressing with Green Hydrogen. Work is in progress in Leh for an integrated project for green hydrogen based mobility; Methanol pilot project at Vindhyachal and blending of natural gas with green hydrogen at Kawas is also in progress.”

Power Sector Future

Gurdeep Singh said that the power sector in India is poised for good growth as every Indian has electricity connection today. He informed that the total capacity of NTPC today is over 69000 MW.