NTPC and NLC to Invest ₹27,000 Crore in Renewable Energy Projects

The Union Cabinet has approved a major investment plan by state-run energy companies NTPC Renewable Energy Limited (NTPC REL) and NLC India Limited (NLCIL) to boost renewable power generation in the country. The two companies will jointly invest ₹27,000 crore in large-scale solar and wind energy projects as part of India’s commitment to achieving its clean energy targets by 2032.

 

Under the plan, NTPC REL will develop projects worth ₹20,000 crore, while NLCIL will invest ₹7,000 crore. The initiatives will focus on expanding solar photovoltaic (PV) parks, wind farms, and hybrid renewable energy systems in states with high renewable potential.

 

The projects are expected to significantly contribute to India’s Nationally Determined Contributions (NDCs) under the Paris Agreement, which aim to reduce carbon emissions and increase the share of non-fossil fuel-based power capacity to 50% by 2030.

 

In addition to the renewable energy investment, the Cabinet also discussed national security and space achievements, commending ISRO scientist Shubhanshu Shukla for his contributions to a recent space mission. The meeting also approved measures to strengthen border infrastructure and enhance living conditions for security forces deployed in high-altitude areas.

 

The renewable energy projects are anticipated to create thousands of direct and indirect jobs while boosting local economies and reducing dependency on fossil fuels. Officials have stated that the investments will also help stabilize power supply in remote areas by integrating clean energy into the national grid.