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The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved an increase in NTPC’s investment cap for renewable energy. The power utility can now invest up to ₹20,000 crore through its subsidiary NTPC Green Energy Limited (NGEL), significantly higher than the previous limit of ₹7,500 crore.
Expanding NGEL portfolio and project pipeline
The funds will go toward expanding NGEL’s renewable energy portfolio, including investments in its wholly owned subsidiary NTPC Renewable Energy Limited (NREL) and other joint ventures.
The move is aimed at helping NTPC meet its target of adding 60 GW of renewable energy capacity by 2032.
NGEL currently oversees around 32 GW of RE capacity: Six GW of it operational, 17 GW awarded, and about nine GW in the pipeline.
Energy transition: India ahead of 2030 target
This decision is part of the Centre's broader strategy to shift away from fossil fuels. India has already met 50 per cent of its installed power capacity from non-fossil sources, ahead of its 2030 target, and is working toward 500 GW of non-fossil capacity by the end of the decade, the cabinet said.
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The government expects this initiative to not only strengthen India’s clean energy infrastructure but also ensure more reliable, round-the-clock electricity for millions of citizens.
Speed up projects, create jobs
The increased investment freedom is also expected to help speed up project development. Renewable energy projects supported by NGEL and NREL are expected to also create both direct and indirect employment, particularly during the construction and operations phases.
Moreover, NTPC, as a Maharatna CPSE, will now have greater flexibility in making faster investment decisions in the renewable sector without waiting for separate government approvals.
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