Cabinet approves exemption to NTPC to invest in NTPC Green Energy

| | New Delhi
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Cabinet approves exemption to NTPC to invest in NTPC Green Energy

Saturday, 18 March 2023 | IANS | New Delhi

Cabinet approves exemption to NTPC to invest in NTPC Green Energy

The Cabinet Committee on Economic Affairs (CCEA) on Friday granted exemption to NTPC Ltd for making investment in NTPC Green Energy Ltd (NGEL), it's wholly-owned subsidiary.

The CCEA also exempted NGEL's investment in NTPC Renewable Energy Ltd (NREL) and its other joint ventures and subsidiaries, subject to a ceiling of 15 per cent of its net worth beyond the monetary ceiling of Rs 5,000 crore to Rs 7,500 crore, towards achieving a target of 60 GW renewable energy (RE) capacity by NTPC Ltd, official sources said.

The exemption given to NTPC will help in improving India's global image as a green economy.

It will also decrease India's dependency on conventional sources of energy by diversifying India's energy generation and will also decrease the country's coal import bills.

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