On March 10, 2024, NTPC and its renewable energy subsidiary, NGEL, formalized non-binding Memoranda of Understanding (MoUs) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) in Jaipur, signifying collaborative efforts in the energy sector.
The MoU between NTPC and RVUNL aims to explore possibilities for incorporating supercritical units into the existing Chhabra Thermal Power Plant. The parties also intend to implement measures to enhance efficiency and reduce the power generation cost of the plant’s existing units. Furthermore, the agreement includes a commitment to undertake 15 to 20-year annuity-based Renovation and Modernization (R&M) of old thermal units of RVUNL by NTPC or its affiliates. The signing ceremony was attended by Shri R Sarangapani, Executive Director of Business Development, Innovation and Consultancy at NTPC, and Shri Devender Shringi, Chairman and Managing Director of RVUNL.
Simultaneously, the MoU between NGEL and RVUNL, the renewable energy arm of NTPC, focuses on the development of Renewable Energy Projects up to 25 GW capacity and Green Hydrogen Derivatives up to 1 million Ton capacity, both within the state of Rajasthan. The agreement was signed by Shri Rajiv Gupta, Chief Executive Officer of NGEL, and Shri Devender Shringi, Chairman and Managing Director of RVUNL.
The signing ceremony, held at the Chief Minister’s Office in Jaipur, was graced by the presence of Chief Minister of Rajasthan, Shri Bhajan Lal Sharma. Union Minister for Power and New and Renewable Energy, Shri R. K. Singh, and Union Minister for Coal and Mines, Shri Pralhad Joshi, virtually attended the event through video-conference. Other notable attendees included Deputy Chief Minister of Rajasthan, Smt. Diya Kumari; Minister of State for the Energy Department, Government of Rajasthan, Shri Heeralal Nagar; Union Coal Secretary Shri Amrit Lal Meena; and Chief Secretary of Rajasthan, Shri Sudhansh Panth.
Representing NTPC Ltd., Chairman and Managing Director, Shri Gurdeep Singh, along with Director (HR), Shri D.K Patel, and Independent Director, Shri Vivek Gupta, were present at the ceremony. NTPC, as India’s largest integrated power utility, currently holds over 75 GW of installed capacity, contributing to 25% of India’s total electricity demand. With ambitious plans, NTPC aims to expand its non-fossil-based capacity to 45%-50% of the company’s total portfolio, targeting 130 GW by the year 2032, with 60 GW allocated to renewable energy capacity.
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