NTPC ties up with SEforALL for energy transition roadmap
A joint statement said that under the agreement, SEforALL will support the development of NTPC's comprehensive energy transition roadmap aligning with country's energy security, development priorities and net-zero commitments.
Sustainable Energy for All (SEforALL) is an international organization working in partnership with the UN, governments, the private sector, financial institutions and civil society with a goal to drive towards the achievement of Sustainable Development Goal 7, which calls for universal access to sustainable energy by 2030.
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The roadmap will include modelling of multiple scenarios reflecting NTPC's short-, mid- and long-term strategic horizons, estimating investments needs, identifying diversification opportunities and the socio-economic benefits that come with shifting to cleaner energy systems.
'Targeting emissions reductions in the energy sector, India's largest power company, NTPC, signed an agreement with Sustainable Energy for All (SEforALL) to support their transition to clean energy," the statement said.
NTPC is already present in the energy transition space including, through its green energy subsidiary NTPC Green Energy Ltd (NGEL). It is present in R&D and large-scale deployments of green hydrogen pilot projects, floating solar photovoltaic systems, battery energy storage systems, pumped storage hydropower and carbon capture and utilization.
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Through NGEL, NTPC plans to install 60 GW of renewable energy capacity by 2032.
'Our aim is to foster responsible, sustainable economic development through an energy strategy that champions energy security, social inclusiveness, environmental stewardship, and growth powered by data, technology and innovation. This agreement positions us to meet the rising demand from communities and industry while keeping us at the leading edge of the energy transition," Gurdeep Singh, Chairman and Managing Director, NTPC.
Damilola Ogunbiyi, chief executive officer (CEO) and Special Representative of the UN Secretary-General for Sustainable Energy for All, said India continues to show climate leadership on the global stage moving beyond commitment to concrete actions while demonstrating that the energy transition in emerging countries can co-exist alongside economic development.
Also read: NMDC eyes ₹70,000 crore worth of projects
'We are excited to support NTPC to co-create net zero roadmap for the energy giant of India. I laud NTPC for its commitment to transitioning to cleaner energy sources," the CEO said.
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