The Ministry of New and Renewable Energy (MNRE) has given the green light to NTPC Renewable Energy Ltd, a 100 percent subsidiary of NTPC, to build a 4750 MW renewable energy park at Rann of Kutch in Khavada, Gujarat.
This will be India's largest solar park, developed by the country's leading electricity generator. Shares of NTPC were seen trading at Rs 120.30, up 0.33% on NSE at 9.45 am IST. The stock has given returns of 37.25% in the last year.
NTPC Ltd, India's largest energy integrated corporation, plans to create 60 GW of renewable energy capacity by 2032 as part of its green energy portfolio expansion. The state-owned power company now has 66 GW of installed capacity over 70 power projects, with a further 18 GW under construction.
On the reservoir of the Simhadri Thermal Power Plant in Andhra Pradesh, NTPC has commissioned India's largest Floating Solar of 10 MW (ac). By August 2021, a further 15 MW (ac) would be operational.
Furthermore, a 100 MW Floating Solar Project atop the reservoir of Telangana's Ramagundam Thermal Power Plant is nearing completion.
NTPC RE Ltd. has also recently inked an MoU with the University of Texas at Austin, Ladakh, and the Ladakh Autonomous Hill Development Council (LAHDC) for the production of green hydrogen and its deployment on FCEV buses. The signing of the MoU coincided with the opening of NTPC's first solar installations in Leh, which included solar trees and a solar car port.