The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi, has granted enhanced delegation of power to NTPC Limited from the extant guidelines of delegation of power to Maharatna CPSEs for making investment in NTPC Green Energy Limited (NGEL). NGEL is a subsidiary company and subsequently, it is investing in NTPC Renewable Energy Limited (NREL) – and its other JVs or subsidiaries beyond earlier approved prescribed limit of Rs.7,500 crore up to an amount of Rs.20,000 crore – for Renewable Energy (RE) capacity addition to achieve 60 GW renewable energy capacity by 2032.
The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country. This move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation.
Renewable Energy projects will also generate direct and indirect employment opportunities to the local people at construction stage as well as during O&M Stage.
