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Saturday, December 02 2023
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Cabinet approves exemption to NTPC to invest in Green Energy

Cabinet approves exemption to NTPC to invest in Green Energy
Photo Credit : IANS

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Friday granted exemption to NTPC Ltd for making investment in NTPC Green Energy Ltd (NGEL), it’s wholly-owned subsidiary.

The CCEA also exempted NTPC Green Energy Ltd’s investment in NTPC Renewable Energy Ltd (NREL) and its other joint ventures and subsidiaries, subject to a ceiling of 15 per cent of its net worth beyond the monetary ceiling of Rs 5,000 crore to Rs 7,500 crore, towards achieving a target of 60 GW renewable energy (RE) capacity by NTPC Ltd, official sources said.

The exemption given to NTPC will help 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.

Read more:

NTPC pays interim dividend of over Rs 3,800 cr for FY22

NTPC RE Ltd signs PPAs for 325 MW Solar Projects

“Ambitious emissions targets will help Indian fossil fuel giants”


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