National Thermal Power Corporation (NTPC) told the media that the company plans to install 60 GW of renewable capacity by 2032. The company also plans to develop 10 GW ultra-mega renewable energy parks. NTPC Renewables expects to develop 44 GW renewable energy capacity and 12 GW renewable capacity, including acquisition. NTPC has 1.15 GW of operational solar capacity and 3.5 GW in the pipeline till June 2021. It reported revenues of Rs 260.39 billion in the first quarter (Q1) of FY22, a rise of 11%, as compared to Rs 234.53 billion in the same period last year. In Q1 FY22, the net profit of the company was Rs 31.46 billion, a rise of 27% from Rs 24.7 billion in the same period last year. The company said that nearly 4.49 GW of renewable energy capacity are in the tendering process. NTPC Renewables won the 325 MW solar capacity in the auction of Rewa Ultra Mega Solar Ltd and 450 MW solar projects in Shajapur Solar Park, MP. In the previous month, the company invited an expression of interest (EOI) for setting up 1,000 MWh grid-connected battery storage systems in its power premises in India. It plans to develop a 4.75 GW solar park in the Rann of Kutch, Gujarat. The solar project is expected to be commissioned within five years from the date of the issue of the letter of award. The company has already applied for long-term access and connectivity for the first 500 MW. It has also informed the Central Transmission Utility to set up an inter-state transmission station substation up to Bhuj. NTPC reported a reduction of 43% in SCPOE 3 emissions from 981,000 tonnes of carbon dioxide emissions in FY20 to 5,61,000 tonnes of carbon dioxide emissions in FY21. It aims to reduce its net energy intensity by 10% compared to the 2012 level by 2032. Image Source Also read: NTPC floats tender for India's first green hydrogen fueling station Also read: NTPC invites EoIs from discoms to purchase electricity