NTPC Limited has incorporated a wholly-owned subsidiary, namely NTPC Renewable Energy Limited with the registrar of companies, NCT of Delhi & Haryana on October 7, 2020, to undertake renewable energy business.
In August, NTPC had received approval from NITI Aayog and the Department of Investment and Public Asset Management to set up a wholly-owned company for its renewable energy business. NTPC is targeting generation of nearly 30 per cent or 39 GW of its overall power capacity from renewable energy sources by 2032.