State-run power producer NTPC said on Tuesday that its newly formed subsidiary, NTPC Renewable Energy, has received approval from the Union ministry of new and renewable energy to set up a 4,750 mega-watt (MW) renewable energy park in the Rann of Kutch in Khavada, Gujarat.
This will be the largest solar park in the country, and the company plans to generate green hydrogen on a commercial scale from the electricity generated by the solar panels to be installed there.
Currently, NTPC’s installed renewable energy capacity is nearly 1,400 MW and by 2032, it intends to have 60,000 MW of green power generation base. In October 2020, it had incorporated a wholly-owned subsidiary, NTPC Renewable Energy, to focus on its green energy business, and is planning to float the initial public offering of the subsidiary in FY23 to raise funds for its green capacity addition plan.
The park will be developed under ‘Mode 8’ of the ultra-mega renewable energy power park scheme, where state governments have to assist in the identification and acquisition of land and facilitate statutory clearances. If project development is not completed within two years, the state governments have the right to take back the allotted land.
As FE recently reported, NTPC also plans to jointly develop offshore wind power plants with the state-run Oil and Natural Gas Corporation, and the potential capacity of these projects can run into “tens of thousands of mega-watts”. NTPC Renewable Energy recently also signed an MoU with UT, Ladakh and Ladakh Autonomous Hill Development Council for the generation of green hydrogen and deployment on fuel cell electric vehicle buses which run on hydrogen.
The company has also secured project management consultancy assignments under the International Solar Alliance platform for 500 MW in the Republic of Mali and 100 MW in the Republic of Malawi. Cuba has also appointed NTPC as project management consultant for a 900 MW solar park. It had earlier secured a consultancy contract for 285 MW with the Republic of Togo.