State-run power giant NTPC will add 32 GW of clean energy by 2032, in addition to its plan to create 15 GW of solar capacity under National Solar Mission, a top company official said today.
The power giant is also creating electric vehicle charging infrastructure in the country.
NTPC has been a traditional thermal power player with a large number coal based plants.
Presently, the NTPC Group's total installed capacity stands at 51,698 MW, which includes 800 MW of hydro, 870 MW of solar and 40 MW of wind capacities.
The company plans to create space for itself in clean energy segment.
"Renewable Energy is an area of immense opportunities as well as challenge for your company. It has the long term target to add 32 GW of RE capacity by 2032. This is in addition to the 15 GW of solar capacity that your company is helping the country to achieve, through National Solar Mission," NTPC Chairman and MD Gurdeep Singh said in his speech at annual general meeting of the company held today.
However, Singh expressed concerns saying that rapid addition and the plummeting tariffs of solar power will present challenges in terms of lower PLFs (plant load factor) of thermal power plants.
Elaborating further, he said the integration of increasing renewable energy into the grid will entail flexible operation of thermal power plants, which will have bearing on energy rates as well as plant life.
On the other hand, he said the NTPC's large portfolio with flexible generation capabilities will open up opportunities in providing ancillary services.
Talking about the government's thrust on electric vehicles, he said it will also go a long way in presenting opportunities for NTPC.
"It (electric vehicles) will not only reduce oil imports, and urban pollution, but also increase power demand. Your company is planning to have a strong presence in the electric vehicle charging infrastructure market," he added.
The steps taken to use coal efficiently helped NTPC to reduce per unit cost by nearly 40 paise in 2016-17 as compared to 2014-15, which resulted into savings of more than Rs 8,000 crore to the states over these two years.
Singh also told shareholders that by fully transitioning to Goods and Services Tax, while helping its vendors and suppliers to adopt it, the company reduced the energy tariff by over 5 paise per unit of electricity.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)