In its annual investor presentation, NTPC Limited has announced its plans to install 60 GW of renewable energy capacity by 2032. Of the target, NTPC Renewables is expected to develop 44 GW of renewable capacity, while 12 GW of renewable capacity will be included through acquisitions. It aims to develop 10 GW of ultra-mega renewable energy power parks during this period.
According to Mercom’s India Solar Project Tracker, NTPC has 1.15 GW of operational solar capacity, and 3.5 GW is in the pipeline as of June 2021.
The company reported revenues of ₹260.39 billion (~$3.50 billion) in the first quarter (Q1) of the financial year (FY) 2022, an 11% increase compared to ₹234.53 billion (~$3.15 billion) in the same period last year.
In Q1 FY 2022, the company’s net profit stood at ₹31.46 billion (~$423.38 million), a 27% increase from ₹24.7 billion (~$332.42 million) in the same period the previous year.
NTPC also stated that about 4.49 GW of renewable capacity is in the tendering process. Mercom had earlier reported that NTPC Renewables secured 325 MW solar capacity in the Rewa Ultra Mega Solar Limited’s auction for 450 MW of solar projects at the Shajapur Solar Park in Madhya Pradesh.
Last month, the company invited expression of interest to set up 1,000 MWh of grid-connected battery energy storage systems on the premises of its power projects across India.
The company will develop a 4.75 GW solar park at the Rann of Kutch in Khavada, Gujarat. The project is expected to be commissioned in five years from the allotment. It has already applied for connectivity and long-term access for the first 500 MW capacity. NTPC informed that Central Transmission Utility started setting up an inter-state transmission system substation at 765 kV/400 kV and transmission lines at 765 kV to Bhuj.
NTPC also reported a 43% reduction in SCPOE 3 emissions from 981,000 tons carbon dioxide (CO2) emissions in FY 2020 to 561,000 tons CO2 emissions in FY 2021. While SCOPE 1 intensity declined 3.4% to 840 gram CO2/kWh in FY 2021 from 870 gram CO2/kWh in FY 2020.
The company aims to reduce its net energy intensity by 10% by 2032 compared to the 2012 level.
As a part of the company’s sustainability strategy, NTPC’s research and development arm will develop a seawater electrolyzer to produce hydrogen. It will also design and set up ten thermal decomposition plant flue gas carbon capture and methanol demo projects.
The company and East Delhi Municipal Corporation (EDMC) formed a joint venture company to develop a waste-to-energy project in East Delhi. The facility will utilize municipal solid waste from EDMC and various other zones.