NTPC Ltd now plans to foray into wind power with an investment of more than Rs 1,200 crore as it seeks to diversify into renewable energy.
NEW DELHI: After ONGC, HPCL and Tata Power, the country's biggest electricity generator NTPC Ltd now plans to foray into wind power with an investment of more than Rs 1,200 crore as it seeks to diversify into renewable energy.
"We are looking at wind energy projects with a total capacity of 200-250 MW. This would require an investment of over Rs 1,200 crore," NTPC Chairman and Managing Director T Sankaralingam said.
The navratna PSU, which has an installed capacity of more than 26,000 MW entirely on coal or gas, has been looking to diversify into other energy sources and is already working on hydroelectric projects, besides a few small biomass plants.
Sankaralingam said the company was scouting for sites and the entire capacity could be set up in a single location. The company would be working with Asian Development Bank and may also rope in a private partner for the new venture, he said.
"We may set up a joint venture. We are in the process of working out details regarding the equity structure," he said.
NTPC's proposed venture comes at a time when a number of energy companies in India and abroad have already forayed into renewables, particularly wind and solar. India is the world's fourth largest wind energy producer with an installed capacity of more than 7,000 MW, only behind Germany, Spain and the US.
Prominent energy firms in renewables include British oil firm BP, India's Oil and Natural Gas Corp, state refiner HPCL, Reliance Energy (REL) and Tata Power Company (TPC). While BP and Tatas have a JV named Tata BP Solar, TPC is also setting up a 100 MW wind project in Maharashtra with ADB's loan.
While REL has set up a 8.3 MW wind project, HPCL is looking at a 100 MW and ONGC around 150 MW unit at different sites in southern and western India.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}