The Cabinet Committee on the Cabinet, Chaird by Prime Minister Narendra Modi, was allowed by the national National Thermal Power Corporation Limited to Invest £20 000 crore to generate 60 GW capacity renewable energy sources by 2032. £7,000 crore by granting a special exception from current investment instructions related to the Central Public Sector.
About NTPC Investments
The proposed investment will focus on the subsidiary NTPC Green Energy Limited (NGEL). Subsequently, Ngel invests in NTPC Renewable Energy Limited (NREL) and its other subsidiaries, which will exceed the previously approved limit £7 500 crore and now will be raised to £20 000 crore.
According to the government, additional funds on NTPC will increase the development of renewable projects in India and will play a major role in strengthening energy infrastructure to provide reliable and continuous access to electricity across the country.
It is also expected that investment in renewable energy projects will generate direct and indirect job opportunities for the locals. In addition, according to the government, it will encourage opportunities for business in the country, in addition to supporting employment and socio-economic development.
About the investment of nlcil
The wardrobe approved £7,000 Investments from NLCIC, which will focus on its completely owned subsidiary NLC India Renewables Limited (Nirl). This investment has been exempt from 30% of the net assets set by the Ministry of Public Enterprises (DPE) for the total investment of public sector enterprises in joint companies and subsidiaries, which provides NLCIL and Nirl of increased operational and financial flexibility.
The aim of this investment is focused on the development of renewable energy capacity (RE) by 2030 and until 2047 until 2047.
Currently, NLCIC manages seven renewable energy assets with a combined installed capacity of 2 GW, whether operating or upcoming commercial startup. These assets will be converted to Nirl after this cabinet approval.
(Tagstotranslate) Cabinet Approval (T)
