The Cabinet Committee on Economic Affairs has approved a substantial investment of Rs 20 billion in the National Thermal Power Corporation of India (NTPC) to bolster renewable energy production through its wholly owned subsidiary, NTPC Green Energy.

In addition, the committee sanctioned NLC India’s request to invest Rs 7 billion in its subsidiary, NLC India Renewables Limited (NIRL), aimed at expanding renewable energy projects.

With this fresh capital injection, NTPC is targeting a renewable power capacity of 60 gigawatts (GW) by 2032. These investments will enhance the renewable energy portfolios of NTPC Green and NLC India Renewables by developing new green energy projects and expanding contracted capacity.

NTPC Green Energy has commissioned 34 renewable projects to date, spanning solar, wind, hybrid energy, and green hydrogen, along with energy storage facilities. The company currently holds a total capacity of 32 GW, comprising 6 GW operational capacity, 17 GW sourced from contractual private suppliers, and a 9 GW pipeline.