NTPC sets up renewable subsidiary

NTPC Limited incorporated a wholly owned subsidiary, NTPC Renewable Energy Limited, on October 7, 2020, to undertake its renewable energy business. In August 2020, NTPC had received approval from NITI Aayog and the Department of Investment and Public Asset Management to set up a wholly owned company for its renewable energy business. NTPC is targeting generation of nearly 30 per cent or 32 GW of its overall power capacity from renewable energy sources by 2032. In a separate development, NTPC has successfully synchronised the 660 MW unit of the Barh Supercritical Thermal Power Plant, Stage I, in Bihar.