NTPC Targets to Install 60 GWs Renewable Energy by 2032

India’s largest integrated energy company, National Thermal Power Corporation Ltd (NTPC), has become the first Indian energy company to declare its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE). It has announced its sustainability energy compact targets. 

As per the official release by the ministry, NTPC has set a target to install 60 Gigawatts (GW) of renewable energy capacity by 2032. India’s largest power producer is also aiming at a 10 percent reduction in net energy intensity by 2032. It is one out of few global organizations to announce its Energy Compact Goals. 

Further, NTPC has declared that it will form at least two international alliances/groups to facilitate clean energy research and promote sustainability in the energy value chain by 2025.

The targets got revealed in the recently held ‘Ministerial Thematic Forums for the HDLE’ event. The commitment from NTPC has been made public on the UN’s website as well. United Nations is set to convene a high-level dialogue in September 2021 to promote the implementation of the energy-related goals and targets of the 2030 Agenda for Sustainable Development.

NTPC has been taking various steps in increasing its green energy portfolio by adding significant capacities of Renewable Energy (RE) sources. It already has an installed capacity of 65,825 MW. 

The company had earlier planned to have a minimum of 32 GW capacity through RE sources constituting nearly 25 percent of its

overall power generation capacity by 2032. This development will prove to be a huge boost for the nation’s largest energy producer that will catapult its position in the green energy map of the country.

Recently, NTPC has issued a tender for setting up two Hydrogen fuel cell-based pilot projects in its premises only. One of the two is a standalone Fuel-Cell based backup power system and the other is a standalone fuel-cell-based microgrid system with hydrogen production using an electrolyzer at NTPC premises. 

Also, the power company ended its fiscal year 2021 with a renewable capacity of 1.86GW, with a consolidated net profit of Rs. 4,649.49 crore, up from Rs. 1,629.86 crore in the previous year (Q4FY20).