Everything changes with time, thus, it is true for the electric power generation companies too. The way the number of black dots (indicating coal-based power plants) is being superseded by the number of green dots (indicating renewable-based power plants) in the NTPC’s power station map, it truly demands appreciation. I don’t feel the need to put even a second thought to call the Indian statutory corporation a forward looking Indian power generation company after seeing its recent move. Yes, I’m referring to its step to sign a Memorandum of Understanding (MoU) with Energy Vault Holdings, Inc. The objective of the MoU is to collaborate and formalize a long-term strategic partnership for deployment of Energy Vault’s EVx gravity-based energy storage technology and software solutions based on the outcome of a joint feasibility study. The technology will also offer beneficial utilization of coal ash for manufacturing of composite blocks for Energy Vault’s gravity-based energy storage system.
Recently, Gurdeep Singh, the CMD of NTPC Ltd., has stated, “As a large, integrated power producer, it is critical for NTPC to have a diverse clean energy portfolio to decarbonize India’s economy. We have enhanced our renewable capacity addition targets to spearhead India’s energy transition goals and we are focusing on Solar, Wind, RTC and Hybrid projects to achieve the targets. The collaboration with Energy Vault will help NTPC in furthering its energy transition goals through a sustainable approach by way of utilizing coal ash for manufacturing of composite blocks. Accordingly, this collaboration will also promote a circular economy.” I feel his view is quite admirable at this juncture, when the entire world’s focus is on decarbonisation and the Russia-Ukraine war has affirmed the ground to accelerate the process.
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