New Delhi: India’s largest power generator, NTPC Ltd., has long been a major player in coal-fired electricity. It’s right there in the name: Until 2005, it was known by its longform moniker, National Thermal Power Company.
But it has lately stepped into the renewables business, as have many other major power and industrial players in India, with a commitment last year to build 32 gigawatts of renewable energy by 2032. This week, it doubled up that commitment, raising its target to 60 gigawatts.
NTPC hasn’t said what its future renewable asset mix will be, but most of India’s renewables expansion will come from solar. Were it to be entirely solar, 60 gigawatts of total capacity by 2032 would be approximately a fifth of India’s expected solar installations to that date. That’s not far off NTPC’s current power market share of 17%, more than 90% of which is fossil fuel-fired.