NTPC gets approval from NITI Aayog and DIPAM to set up renewable energy business arm

NTPC has received the approval of NITI Aayog and Department of Investment and Public Asset Management (DIPAM) to set up a wholly-owned company for its renewable energy business.

NTPC targets to generate nearly 30 per cent or 39 GW of its overall power capacity from renewable energy sources by 2032. The wholly-owned subsidiary will be incorporated under the provisions of the Companies Act, 2013. Further, NTPC is planning to set up 10 GW of solar energy by 2022, which entails an investment of around Rs 500 billion.

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