State-owned NTPC is planning to set up a new subsidiary to undertake nuclear projects, its chairman and managing director Gurdeep Singh said on Thursday.
Speaking at the company’s 48th annual general meeting, he said NTPC is on the verge of commencing work on the 2.8-gigawatt (GW) Mahi Banswara nuclear project in Rajasthan through its joint venture with Nuclear Power Corporation of India — Anushakti Vidhyut Nigam (ASHVINI) – with an estimated investment of Rs 50,000 crore.
“In parallel, we are taking steps to form a separate subsidiary dedicated to the nuclear business going forward,” he said.
Earlier, NTPC had signed a supplementary joint venture agreement with Nuclear Power Corporation for the development of Mahi Banswara project and another nuclear plant in Chutka in Madhya Pradesh with a capacity of 1.4 GW. However, the Chutka project will now be undertaken by NPCIL independently, the company had earlier said.
The company is also looking to develop nuclear power plants in Tamil Nadu, Karnataka, Jharkhand, Chhattisgarh and Gujarat, among other states, and is in the process of identifying potential sites and getting requisite approvals.
Additionally, the company is in the process of fast-tracking various projects with an aggregate capacity of 12 gigawatt (GW) by the financial year 2029-30 with firm plans to achieve a capital expenditure of Rs 7 lakh crore by FY32.
“On the thermal capacity front, we are focused on completing our existing pipeline of 9.5 gigawatt with the tenders issued for an additional 10.4 gigawatt of capacity. “We are on track to achieve our committed 60 gigawatt of renewable energy by 2032.”
Singh said that the company’s focus has shifted from the traditional engineering, procurement, and construction (EPC) model to sourcing the components and aggregating resources such as solar PV modules, land passes and connectivity.
“Additionally, we are aggressively working on setting up storage capacity at our power stations. I am also happy to share with you that NTPC is in the forefront of India’s clean energy transition by leading initiative in the green hydrogen green chemicals and carbon capture and utilization,” he said.
NTPC has also collaborated with leading energy players like IOCL, ONGC, Nalco and HPCL for various projects. “These partnerships will be mutually beneficial and contribute to India’s goal of achieving a carbon neutral economy,” Singh said.
From: financialexpress
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