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Photo: Bloomberg (Bloomberg)
Photo: Bloomberg (Bloomberg)

NTPC looks to buy 1GW of wind projects

The state-run power producer is also working on the acquisition of at least 1GW of operational solar power projects

State-run NTPC Ltd plans to acquire at least 1,000 megawatts (MW) of operational wind power projects, two people aware of the development said, as part of its pivot towards green energy. This transaction process may rank among the largest in India’s clean energy sector.

NTPC, one of the biggest thermal power producers in the world, has decided not to set up new greenfield coal-fuelled power projects.

The company may soon call a request for proposal (RFP) for these wind projects, the people cited above said on condition of anonymity. The plans come against the backdrop of climate change impacting India’s green economy. A Mint report on 1 October said wind energy generation during this year’s peak season was the worst ever.

NTPC is also working on the acquisition of at least 1 gigawatts (GW) of operational solar power projects from promoters, lenders, or merchant bankers.

Queries emailed to an NTPC spokesperson late on Wednesday night remained unanswered.

The state-run conventional power generation firm plans to have a 32GW clean energy portfolio by 2032. It has a 1GW operational clean energy capacity and a 3GW pipeline, and plans to add at least 5GW solar capacity in two years. NTPC plans to make a total capital expenditure of 1 trillion between 2019 and 2024 to become a 130GW power producer by 2032.

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