India's largest power generation company NTPC aims to invest Rs 5,000 bn (US$75bn) to become the largest renewable energy company in India in the next ten years. The bulk of its investments will be focused on renewable new-build rather than on new thermal power generation units.
NTPC aims to raise its generation capacity from the current level of over 47 GW (including nine solar power plants with a combined capacity of 360 MW) to 128 GW by 2030. It plans to maintain its capacity addition level but to increase the share of renewables in this generation capacity addition. Former plans to add around 10 GW in the next four years will likely be revised upwards; so far, NTPC has commissioned 250 MW of renewable capacity and started work on the development of 3,010 MW. The company also plans to set up around 800 MW solar plants on water reservoirs at thermal power plants.
NTPC's plans are in line with India's renewable targets to reach 175 GW of renewable capacity by 2022, including 100 GW from solar and 60 GW from wind.
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