NTPC Green inks pact with Indus Towers to develop renewable energy projects

State-owned power giant NTPC arm NTPC Green Energy Ltd (NGEL) on Friday said it has signed an initial pact with Indus Towers Ltd to address the need for pacing green energy objectives and the GoI's efforts towards carbon neutral economy.

The MoU (Memorandum of Understanding) shall explore joint development of grid-connected renewable energy-based power projects including solar, wind, energy storage etc. and/or solutions thereof, a company statement said.

Indus Towers Ltd (ITL) aims to expand its renewable energy portfolio in a phased manner to Giga Watt (GW) scale capacity, for its business operations spread across the country, as a part of its net zero commitments.

The MoU was signed by Soumya Kanti Chowdhuri, Chief General Manager, NGEL and Vikas Poddar, Chief Financial Officer (CFO), ITL in the presence of other senior officials from NTPC and ITL on Thursday.

NTPC is India's largest power utility with the core business of power generation having a total installed capacity of 76 GW. It has ambitious plans of 60 GW of RE (Renewable Energy) capacity by the year 2032 and currently, it has 3.5 GW of installed RE capacity and 28+ GW under pipeline.

ITL, India's leading passive telecom infrastructure provider, deploys, owns, and manages over 211,775 telecom towers and communication structures. With a presence in all 22 telecom circles, Indus Towers caters to wireless telecommunication service providers in India.