Cabinet approves exemption to NTPC for making investment beyond the prescribed limit in NGEL

The Cabinet Committee on Economic Affairs (CCEA) has granted exemption to NTPC Limited from the extant guidelines of delegation of power to Maharatna central public sector enterprises for making investment in NTPC Green Energy Limited (NGEL).

The CCEA also exempted NGEL’s investment in NTPC Renewable Energy Limited and its other joint ventures/subsidiaries subject to a ceiling of 15 per cent of its net worth beyond the monetary ceiling of Rs 50 billion to Rs 75 billion. The move is aimed at achieving NTPC’s target of 60 GW renewable energy capacity by 2032, which will help the country in achieving its renewable energy target and move towards larger aim of having net zero emissions by 2070.  The exemption given to NTPC will aid in improving India’s global image as a green economy. It will also decrease India’s dependency on conventional sources of energy by diversifying India’s energy generation and will also decrease the country’s coal import bills. Further, it will also help in ensuring 24×7 power supply across the country.