According to its CEO, Mohit Bhargava, NTPC Renewable Energy (NTPC-REL), the renewable energy division of the state-run NTPC, intends to establish 1.5 GW of renewable energy capacity this year.
He mentioned that their goal for the year is to achieve 1.5 GW of renewable energy capacity with a capital expenditure of around Rs 10,000 crore. This expenditure encompasses ongoing, under-construction, and future projects for the upcoming year.
It’s important to note that this capital expenditure pertains to NTPC Renewables and not solely to NTPC-REL. A significant portion of the total capacity will be allocated to solar energy. Specifically, 150 MW is designated for wind projects, with the remainder dedicated to solar. The wind energy capacity is an exclusive part of hybrid projects.
Regarding the company’s solar project plans in the forthcoming years, Bhargava revealed that from their overall 60 GW capacity goal, NTPC-REL currently has a 20 GW renewable energy project pipeline. Out of this, 3.3 GW is already operational, over 7 GW is under construction, and they anticipate placing orders for the remaining 10 GW within the next 10-12 months. By 2026, they aim to have a significant portion of this capacity operational.
In terms of storage, the company is exploring the most cost-effective solutions. Bhargava stated that they’re considering various storage options, leaving the choice to the bidders. This could include pumped storage and battery storage for electricity. So far, all their decisions have been made without favouring any particular technology.
Previously, NTPC-REL’s tenders focused on pumped and battery storage, aiming to ensure continuous power supply. NTPC-REL operates as a wholly owned subsidiary of NTPC. Its establishment was driven by the ambition to boost the company’s renewable energy expansion and enhance its domestic and international green presence.
The company is actively involved in solar, wind, and hybrid projects. They are also working on gigawatt-scale renewable energy parks in various states as part of the Ultra Mega Renewable Energy Power Park initiative. Additionally, they have ventured into green hydrogen-based mobility.