New Delhi: On Wednesday, the government authorized NTPC, a state-owned enterprise, to allocate up to Rs 20,000 crore for expanding its renewable energy capacity, aiming for a total of 60 GW by the year 2032.
Information and Broadcasting Minister Ashwini Vaishnaw disclosed this decision, which was made during a meeting of the Cabinet Committee on Economic Affairs (CCEA) led by Prime Minister Narendra Modi.
The CCEA has increased the financial authority granted to NTPC Ltd, allowing it to invest in NTPC Green Energy Ltd (NGEL), which will in turn invest in NTPC Renewable Energy Ltd (NREL) and its various joint ventures and subsidiaries, with a total investment limit of Rs 20,000 crore for renewable energy capacity expansion.
Previously, NTPC's investment cap was set at Rs 7,500 crore.
This expanded authority for NTPC and NGEL is expected to expedite the development of renewable energy projects throughout the country, according to an official statement.
This initiative is also anticipated to significantly enhance the power infrastructure and ensure consistent electricity access across the nation.
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