NTPC to partner NIIF, ONGC to acquire and develop RE assets

NTPC Limited has planned to partner with National Investment and Infrastructure Fund (NIIF) and Oil and Natural Gas Corporation Limited (ONGC) for acquisition and development renewable energy (RE) assets such as offshore wind projects.

NTPC’s strategy is in line with the Ministry of New and Renewable Energy’s (MNRE) target of adding 30 GW of offshore wind energy projects by 2030. India plans offer lower offshore energy tariffs by harnessing the enormous wind power potential along its coastline. Meanwhile, NTPC has set an aim of 60 GW RE capacity by 2032 with a planned investment of Rs 1 trillion between 2019 and 2024 to become a 130GW power producer by 2032.As part of its diversification strategy, NTPC has also planned to leverage hydrogen for transportation by mixing the fuel with natural gas for city gas distribution (CGD) network.

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