NTPC, the country’s largest thermal power producer, is poised to facilitate India’s drive toward ambitious national renewable energy targets and is leading the global energy transition, a report said.
“Despite its deep historical connection to coal-fired electricity generation technology, NTPC has recently moved to the forefront of India’s energy transition and stands to be the country’s key new energy enabler” said co-author of the report Tim Buckley, director of energy finance studies, Australasia at Institute for Energy Economics and Financial Analysis (IEEFA).
“The role NTPC is now playing in transforming the Indian energy sector in its ongoing shift away from the increasingly stranded assets of the fossil fuel industry cannot be underestimated,” said Buckley.
With economic growth at 7-8 per cent a year, India is the world’s fastest growing major economy. As a state-owned power utility, NTPC’s priority is to underpin that growth.
While this responsibility has required expansion of coal-fired power generation in the past, this has changed. The year 2017 has already seen several watershed moments that have signaled a new era in India’s electricity
“With the average new solar tariff
in 2017 below NTPC’s coal-fired power tariff for its existing fleet, it is clear that renewable energy
offers a cheaper way to provide power,” said Buckley. Read More…
Credit By: Business Standard
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