In a major boost to its aggressive plans to increase renewable energy generation, India’s largest power generation company has secured approval to set up a solar park park in Gujarat.
The Ministry of New and Renewable Energy recently gave a go-ahead to NTPC to set up a 4.7 gigawatt solar power park at Rann of Kutch in Gujarat. The park will be around twice as large as the Bhadla solar park in the neighbouring state of Rajasthan.
Solar power generated at this park will also be used for production of green hydrogen, the company revealed. The Indian government recently announced that it would mandate industries to use hydrogen produced from renewable energy. The obligation would be implemented in a manner similar to the renewable energy mandates.
The company first announced plans to set up this solar park in 2019. The size of the solar park was initially proposed to be 5 gigawatts with an estimated investment of Rs 200 billion ($2.8 billion). The company was reportedly considering setting up a similar solar power park in neighboring state of Rajasthan.
NTPC has around 66 gigawatts of power generation capacity, nearly 92% based on coal and gas. It plans to have 60 gigawatts of renewable energy capacity by 2032. Over the few months the company has been aggressively participating in solar power auctions, it has done so through its new subsidiary — NTPC Renewable Energy Limited.
The sudden push for renewable energy by NTPC is part of its Corporate Plan 2032. It plans to increase the share of renewable energy in its generation mix to 28.5% by 2032.