Latest news with #NGEL
The Print
4 days ago
- Business
- The Print
Andhra Pradesh aims 1 MMT green hydrogen capacity: Minister Pemmasani Shekhar
He said NTPC Green Energy Ltd (NGEL), an arm of NTPC, is looking to develop a green hydrogen hub at Pudimadaka in Visakhapatnam. On January 4, 2023, the Union Cabinet approved the National Green Hydrogen Mission with an outlay of Rs 19,744 crore and a target of producing 5 million metric tonnes (MMT) per annum of Green Hydrogen in the country by 2030. 'Andhra Pradesh is now evolving into the beating heart of India's green hydrogen ecosystem with an ambitious target of 1 MMT green hydrogen (20 per cent of nation's production) per annum by 2030,' the Minister of State (MoS) for Communications and Rural Development Pemmasani Chandra Shekhar said at an event in Amravati, Andhra Pradesh. New Delhi, Jul 18 (PTI) Andhra Pradesh is targeting 1 million metric tonnes (MMT) of green hydrogen capacity by 2030, which will require huge investments, Union Minister Pemmasani Chandra Shekhar said, urging investors to avail benefits of state policies. India's largest green hydrogen hub will be capable of producing 1,500 tonnes/day of green hydrogen and 7,500 tonnes/day of derivatives (green ammonia, methanol, sustainable aviation fuel). The state will see investment worth Rs 1.85 lakh crore, he said. Another player, Hero Future Energies, is also keen to set up a green hydrogen plant at Tirupati. These investments and export-ready world-class ports of Andhra Pradesh are signalling to the world that clean-energy scale is both possible and profitable, the minister said. Speaking on challenges, he said while the opportunities are immense, the path to a green hydrogen economy is not without hurdles. He said cost competitiveness remains a challenge. Producing green hydrogen requires significant investment in electrolysers, renewable energy infrastructure, and storage systems. Globally, green hydrogen costs USD 3-6 per kg, compared to USD 1-2 per kg for grey hydrogen. Scaling up production and improving electrolyser efficiency are critical to closing this gap, the minister said. Another challenge is water scarcity. Producing 1 kg of green hydrogen requires 9 litres of freshwater, and with India's water demand projected to double its supply by 2030, innovations like seawater electrolysis are essential. 'Third, infrastructure gaps, including pipelines, refuelling stations, and storage facilities, must be addressed to enable efficient transport and distribution. Despite these challenges, Andhra Pradesh is forging ahead,' the minister said. He also urged investors to participate in the state's integrated value chain – from electrolyser fabrication to derivative fuels. The state's proactive policies, such as tax breaks, subsidies, and the draft Integrated Clean Energy (ICE) Policy 2024, are designed to overcome these barriers and accelerate green hydrogen adoption, Shekhar said. PTI ABI ABI SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
6 days ago
- Business
- Hans India
Centre allows NTPC to invest up to `20k cr in renewable energy
New Delhi: The government on Wednesday permitted state-run NTPC to invest up to Rs20,000 crore for renewable energy capacity addition to achieve 60 GW capacity by 2032. I&B Minister Ashwini Vaishnaw shared details about the decision taken at the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. The CCEA has enhanced delegation of power to NTPC Ltd to invest in NTPC Green Energy Ltd (NGEL) and subsequently, NGEL investing in NTPC Renewable Energy Ltd (NREL) and its other JVs/subsidiaries up to Rs20,000 crore for Renewable Energy (RE) capacity addition to achieve 60 GW Renewable Energy Capacity by 2032. The earlier approved prescribed limit for NTPC was Rs 7,500 crore. The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country, an official release said. The 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, it said.
Time of India
6 days ago
- Business
- Time of India
Renewable energy push sees NTPC get nod to invest Rs 20,000 crore in green arms
Representative image NEW DELHI: In a big push for green energy, the Cabinet on Wednesday granted approval to state-run NTPC to invest up to Rs 20,000 crore in its green energy subsidiaries, a sharp rise from the earlier cap of Rs 7,500 crore. It also allowed NLC India Ltd to invest Rs 7,000 crore in NLC India Renewables Ltd, its wholly owned subsidiary. I&B minister Ashwini Vaishnaw said work is in progress to increase NTPC's green energy capacity from 6GW at present to 26GW, with the target for 2032 being 60GW. Wednesday's decisions will "facilitate accelerated development of renewable projects in the country," he added. The relaxation in investment limit for NTPC will enable it to infuse capital into NTPC Green Energy Ltd, which, in turn, will support investments by NGEL in NTPC Renewable Energy and other JVs & subsidiaries for scaling up renewable energy capacity. On X, home minister Amit Shah said: "Increasing investment limits of NTPC & NGEL in the sector to Rs 20,000 crore will speed up our journey towards achieving the goal of producing 60GW green energy by 2032.... On the other hand, special exemption to NLC India Ltd will enable it to invest Rs 7,000 crore in green energy, standing out as our firm commitment to creating a greener Bharat and healthier planet." Vaishnaw said India has achieved a key milestone by ensuring that non-fossil fuel sources account for 50% of its installed electricity capacity, which was achieved five years ahead of its Nationally Determined Contributions target under Paris Agreement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Beyond Text Generation: An AI Tool That Helps You Write Better Grammarly Install Now Undo The target now is to increase non-fossil fuel generation capacity to 500 GW by 2030 and achieve net zero emissions by 2070. On the decision for NLCIL, the government said it would enable the government-owned entity to invest Rs 7,000 crore in NIRL and lead to NIRL investing in various projects directly or through formation of joint ventures, without the requirement of prior approval under the existing delegation of powers. The decision is expected to reinforce India's position as a green energy leader by reducing dependence on fossil fuels, lowering coal imports and enhancing reliability of 24x7 power supply across country. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
7 days ago
- Business
- Mint
Cabinet approves ₹20,000 crore for NTPC, ₹7,000 crore for NLCIL
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, allowed the state-owned National Thermal Power Corporation Limited to invest ₹ 20,000 crore, with the aim to generate 60 GW of renewable energy capacity by 2032. Additionally, The Cabinet approved Neyveli Lignite Corp India Limited (NLCIL) to invest ₹ 7,000 crore by granting a special exemption from the current investment guidelines applicable to Navratna Central Public Sector Enterprises. The proposed investment will be directed to NTPC Green Energy Limited (NGEL), a subsidiary. Subsequently, NGEL will invest in NTPC Renewable Energy Limited (NREL) and its other subsidiaries, exceeding the previously approved limit of ₹ 7,500 crore, and will now be increased to up to ₹ 20,000 crore. According to the government, the additional funds to NTPC will boost the development of renewable projects in India and play a vital role in strengthening power infrastructure to provide a reliable, continuous access to electricity across the country. Investment in renewable Energy projects is also expected to generate direct and indirect employment opportunities for local people. Additionally, it will encourage entrepreneurship opportunities within the country, besides promoting employment and socio-economic development, according to the government. The Cabinet approved ₹ 7,000 crore investment by NLCIL, which will be directed towards its wholly owned subsidiary, NLC India Renewables Limited (NIRL). This investment is exempt from the 30% net worth limit set by the Department of Public Enterprises (DPE) for total investments by public sector enterprises in joint ventures and subsidiaries, granting NLCIL and NIRL increased operational and financial flexibility. Through this investment, NLCIL aims to develop 10.11 GW of Renewable Energy (RE) capacity by 2030 and up to 32 GW by 2047.
Time of India
7 days ago
- Business
- Time of India
Green energy push: Cabinet nearly triples NTPC's investment cap for renewables to Rs 20,000 crore, to fast-track 60 GW clean power goal by 2032
The Cabinet has approved enhanced delegation of financial powers to NTPC Ltd, allowing the state-run power utility to invest up to Rs 20,000 crore in its green energy subsidiaries — a sharp rise from the earlier cap of Rs 7,500 crore. Tired of too many ads? go ad free now The relaxation will enable NTPC to infuse capital into NTPC Green Energy Limited (NGEL) and, in turn, support investments by NGEL in NTPC Renewable Energy Limited (NREL) and other joint ventures and subsidiaries for scaling up renewable energy capacity addition. The approval is aimed at fast-tracking India's push towards achieving 60 GW of renewable capacity under the NTPC Group by 2032. 'The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country,' the government said in an official release. It also noted that the move would strengthen power infrastructure and ensure reliable, round-the-clock electricity access nationwide. India has already achieved a key milestone by reaching 50% of its installed electricity capacity from non-fossil fuel sources—five years ahead of its Nationally Determined Contributions target under the Paris Agreement, the release stated. The country is now targeting 500 GW of non-fossil energy capacity by 2030 and net zero emissions by 2070. In addition to contributing to climate goals, the renewable energy expansion is expected to unlock major employment potential. 'RE projects will also generate direct and indirect employment opportunities to the local people at construction stage as well as during O&M stage,' the government said. The initiative is also expected to give a fillip to local suppliers, MSMEs, and grassroots entrepreneurship. NGEL, the listed green energy arm of NTPC, is spearheading the group's renewable capacity addition through both organic and inorganic growth. Its wholly owned subsidiary, NREL, will be the primary vehicle for executing new projects. Together, NGEL and NREL currently have a renewable energy portfolio of around 32 GW — comprising approximately 6 GW operational, 17 GW contracted or awarded, and a pipeline of around 9 GW, according to the release.
