NTPC to expand its target of setting up 10 GW of solar capacity: Report

NTPC Ltd. is reportedly expanding its solar energy target and slowing down development of coal-based plants.

According to Bloomberg, NTPC will expand its target of setting up 10 GW solar capacity. Chairman Gurdeep Singh speaking to publication said that NTPC will also support building 15GW of solar capacity by buying power from producers and selling it to distribution companies.

The state run company is looking into opportunities like solar equipment manufacturing, solar parks and electric vehicle charging infrastructure.

Singh said “As of now, we don’t intend to acquire any fresh land for coal-based power plants.” He further added “This year, we will commission 4,500 megawatts, and a similar capacity next year.”