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NTPC earmarks 0.5% annual profit for climate research

NTPC earmarks 0.5% annual profit for climate research
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First Published: Mon, May 12 2008. 06 02 PM IST
Updated: Mon, May 12 2008. 06 02 PM IST
PTI
New Delhi: State-run NTPC Ltd on Monday said it would set aside 0.5% of its net profit annually for funding research on clean coal technology and reducing cost of harnessing solar energy, among other things.
“We would put aside 0.5% (approximately Rs 30 crore) of our annual net profit for this climate research fund,” NTPC Chairman and Managing Director R S Sharma told reporters here.
The research project would include development of coal gasification technology for commercial use and improvement in efficiency of its power stations.
“We have the potential of being world leaders in coal gasification and we also require an autonomous and indigenous coal technology,” Minister of State for Power Jairam Ramesh said.
Emphasising the importance of energy, the minister said, “Energy problems can be solved by coal, hydel, nuclear sources and not by solar or wind as these are very local sources.”
NTPC’s focus areas also include re-powering and replacement of old units, introduction of ultra supercritical technology and clean coal technologies.
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First Published: Mon, May 12 2008. 06 02 PM IST