CMD says listing planned for NTPC's green energy vertical in the next one to two years

28 Dec 2023 , 12:06 PM

In the coming year or two, state-owned NTPC plans to float its green energy vertical because it anticipates increased demand. Gurdeep Singh, the chairman and managing director, announced on December 27th that the company expects a 30–40% increase in capital expenditures to meet the nation’s growing need for electricity.

Singh continued by saying that the company is stabilising power demand in accordance with consumption and will make sure that reasonably priced and dependable power is available when demand increases.

Singh added that in recent years, energy security has taken on a greater significance. Although there is nothing wrong with coal-fired power plants, usage needs to be managed and the emphasis should be on hydrogen and solar energy.

The entity’s capability for fossil and non-fossil fuels should be nearly equal in the next five to seven years. As a result, the business is working hard on new fuels including green hydrogen chemistry as well as solar and green energy.

According to Singh, capex has been in the region of about Rs 25,000 crore, and it will rise by at least 30–40% going forward. The company expressed confidence in its ability to meet its aim of adding 60 gigawatts of renewable capacity by 2030, if not earlier.

Currently, the business is building 7.5 gigawatts and 3.5 gigawatts are in commission. Twenty more gigawatts are being used for other developmental projects.

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