NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has commissioned the first 64.76 MW of its 225 MW GSECL RE Park Khavda solar PV project in Gujarat. With this, the total installed capacity of the NGEL group has increased to 10,786.56 MW.
In separate developments, NTPC’s board approved the incorporation of a wholly owned subsidiary or a special purpose vehicle (SPV) to develop renewable energy projects. The company may subsequently dilute its stake in the SPV to facilitate captive and group captive solutions for commercial and industrial consumers, subject to the required approvals.
The board also approved an additional investment of up to Rs 2.88 million in AP NGEL Harit Amrit Limited, its 50:50 joint venture with New & Renewable Energy Development Corporation of Andhra Pradesh Limited. Following the subscription to additional equity shares, NTPC’s stake will increase from 50 per cent to 51 per cent, making the joint venture a subsidiary of the company.