New Delhi State-run Nabinagar Power Generating Company Limited (NPGC), a subsidiary of NTPC Limited, has declared an interim dividend. 100 crore for the financial year 2021-22 – India’s largest power generation utility said in a statement on Saturday.
This comes against the backdrop of NTPC’s pivot towards green energy. NTPC Group made a net profit of $1.85 billion in FY2011. It has also set a target of 10% reduction in net energy intensity.
NTPC has an installed capacity of about 67.90 gigawatts (GW) in 70 power projects, of which 13.6 GW is under construction. It has set an ambitious target of 60 GW of renewable energy capacity by 2032 from the current 4.7 GW. NTPC has won 4.32 GW renewable energy bids since last financial year. It plans to invest 1 trillion between 2019 and 2024, to become a 130GW electricity producer by 2032.
NTPC REL has entered into an agreement with the Union Territory of Ladakh for Green Hydrogen Mobility Project, with the company executing the project jointly with NVVN. NTPC also plans to partner with the country’s quasi-sovereign wealth fund, and the Oil and Natural Gas Corporation, to acquire and develop green energy assets, including offshore wind projects.
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