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  • 04 Jul 2022
  • ICICI Securities

NTPC inks MoU with Rajasthan for 10 GW ultra mega RE parks

NTPC - 161 Change: 2.70 (1.70 %)

News: NTPC's renewable arm, NTPC Renewable Energy (NREL), has signed an MoU with the Rajasthan government to develop 10 GW ultra mega renewable energy power parks (UMREPP) in Rajasthan

Views: NTPC has set aggressive renewables long term capacity addition target of 60 GW by 2032, which was earlier pegged at 30 GW. The company currently has 6500 MW of renewable projects across various stages. Out of this. 1600 MW has been commercialised and ~3500 MW will come under commissioning in the next 18 months. The company expects to spend ~40% of total capex planned for FY23 on renewable projects. This share is going to further increase from FY25 beyond, which indicates very strong addition in renewable portfolio from FY24 onwards, which should pan out well for NTPC

Impact: Positive

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