NTPC Ltd signed a Statement of Intent (SoI) with NITI Aayog to create NTPC’s net zero GHG emissions Roadmap. The SoI intends to formalise a framework of collaboration between the parties to assist NTPC in strategising for expanding its generation mix to lower its carbon footprint.
With 17 percent of the country’s installed generation capacity, NTPC fulfills around 24 percent of the country’s power requirements. With this association, NTPC will be able to leverage the experience of NITI Aayog’s energy team to align with the Government of India’s ‘Panchamrit’ aspirations set up by Government of India at CoP 26. Furthermore, NITI Aayog’s team will help in drafting a carbon and energy portfolio mix modeling, and construction of a Carbon Management Unit (CMU) in NTPC.
Recently in July 2020, Indian Oil Corporation Limited and NTPC Limited announced about establishment of their joint venture company to address the power requirements of the forthcoming refinery projects of IOCL through renewable energy sources. Through this collaboration, IOCL intends to fulfill the extra power requirements of its refineries by utilising round-the-clock renewable energy of up to 650 MW by the end of December 2024.