2 min read.Updated: 13 Jul 2021, 05:17 PM ISTLivemint
NTPC Renewable Energy Ltd has received the go-ahead for the solar park from the ministry of new and renewable energy under the ultra-mega renewable energy power parks scheme
NEW DELHI :
State-run NTPC Ltd will set up India’s largest solar park of 4.75 gigawatt (GW) at Rann of Kutch in Gujarat from where it will also generate green hydrogen on a commercial scale.
India’s largest power generation utility’s subsidiary NTPC Renewable Energy Ltd has received the go-ahead from the ministry of new and renewable energy (MNRE) under the ultra-mega renewable energy power parks (UMREPP) scheme, the state-run firm said in a statement on Tuesday.
This comes against the backdrop of reports about NTPC’s plans to list NTPC Renewable Energy Ltd. The PSU has also announced its target of 10% reduction in net energy intensity as part of its energy compact goals. NTPC plans to invest ₹1 trillion between 2019 and 2024 to become a 130GW power producer by 2032. Of this, 60 GW will come from renewable energy sources.
State-run companies present in the conventional power space, including NTPC, plan to build massive green energy parks under the UMREPP scheme in wind- and solar-resource rich states such as Jammu and Kashmir, Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Telangana.
Mint reported on 11 October 2019 about India’s plans to set up solar and wind projects on fallow land along its international border with Pakistan to address the issue of land availability for clean energy projects in the country.
NTPC’s pivot towards green energy comes at a time when India is considering a proposal to make it mandatory for fertilizer plants and oil refineries to purchase green hydrogen as part of plans to cut the nation’s dependence on fossil fuels. NTPC Renewable Energy Ltd has also inked a pact with the Union territory of Ladakh on Tuesday to set up a green hydrogen mobility project in the region.
As reported by Mint, a draft note prepared for the Union cabinet has called for fertilizer plants and oil refineries would have to use green hydrogen to meet 0.15% of their total hydrogen requirements, starting 2023-24, and ramping it up to a tenth of their total requirements within six years.
“NTPC Renewable Energy ltd, a 100% subsidiary of NTPC, has received the go-ahead from the ministry of new and renewable energy (MNRE) to set up 4,750 MW renewable energy park at Rann of Kutch in Khavada, Gujarat. This will be India’s largest solar park to be built by the largest power producer of the country," the statement said.
NTPC’s park is part of the central government’s plan of making state-run companies build massive clean energy parks to help developers achieve economies of scale and further bring down solar and wind power tariffs.
“As a part of its green energy portfolio augmentation, NTPC Ltd, India’s largest energy integrated company aims to build 60 GW Renewable Energy Capacity by 2032. Currently, the state-owned power major has an installed capacity of 66 GW across 70 power projects with an additional 18 GW under construction," the statement added.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!