NTPC, one of the largest power generation companies in India has announced plans to expand its renewable energy capacity to meet growing energy demand and sustainability targets.
National Thermal Power Corporation Limited (NTPC) will be investing ₹1 trillion ($13.4 billion) in energy generation projects between 2019 and 2024 with the majority of the investment expected to be directed towards low-carbon energy generation projects.
The investment will expand the utility’s energy generation portfolio to 130GW from the current 65.81GW installed through the implementation of some 70 projects. Today, NTPC has around 18GW of energy generation projects under construction, up to 60GW of renewable energy projects set to be deployed by the utility by 2032. This means non fossil fuel based generation capacity shall make up nearly 30% of NTPC’s energy mix by 2032.
The investment will also help NTPC to reduce its net energy intensity by 10%. This is in line with the UN High-Level Dialogue on Energy, which the company has pledged, to become India’s first power generator to align its sustainability goals with energy-related targets of the 2030 Agenda for Sustainable Development, according to a statement.
“NTPC is among the few organisations globally to declare 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 company has said in a press statement.
Other measures and technologies NTPC will explore to reduce its carbon emissions and align its operations with climate change mitigation goals set by the Indian government include ethanol and fossil fuel blending, green mobility, battery storage and green hydrogen.
Despite the Indian government claiming that the country’s per capita emission is well below the world average, with 67% to 75% of carbon space occupied by developed nations, the nation is deploying the world’s largest clean energy project to further reduce its greenhouse gas emissions from the energy sector. India has set a target to achieve 175GW of renewable energy capacity by 2022. However, with the current impact of COVID-19 on business operations, will the target be met?