NTPC gets relaxation from government to invest in NTPC Green Energy Ltd
New Delhi (Best Hindu News): The Cabinet Committee on Economic Affairs (CCES) has accorded Maharatna status to NTPC Ltd. for investment in its green energy subsidiary NTPC Green Energy Ltd. (NGEL) to meet the green energy targets. On Friday approved the proposal for exemption from the existing guidelines for giving investment rights to the acquired Central Public Sector Undertakings.
Informing about the decision taken at the CCEA meeting chaired by Prime Minister Narendra Modi, an official release said that the CCEA has also approved investment of NGEL in NTPC Renewable Energy Limited (NREL) and its other joint ventures or subsidiaries. Exempted. The exemption will be for up to Rs 7,500 crore above the monetary limit of Rs 5,000 crore and will be subject to a cap of 15 per cent of the company’s net worth. The decision has been taken in view of NTPC Ltd’s target of 60,000 MW of renewable energy (RE) capacity by 20232, the release said.
NTPC Ltd has transferred its green energy projects to its newly formed subsidiary NGEL. NTPC has complete control over these subsidiaries.
India In line with its commitment to achieve a net-zero increase in carbon emissions levels by 2027 at the United Nations Conference of Parties on Climate Change, COP 26, India is working towards a low carbon footprint while meeting its development goals Is. The country has set a target of reaching 100,000 MW of non-fossil energy capacity by 2030. As a Central Public Sector Enterprise and leading power utility of the country.
NGEL It has 15 RE assets of 2,861 MW, which are operating near Commercial Operation Date (COD) and is set to expand its RE portfolio through its subsidiary NREL (NTPC Renewable Energy Limited).