NTPC Green Energy and Indus Towers forge partnership to boost renewable energy projects
NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) have taken a significant step towards enhancing India’s renewable energy capabilities by signing a Memorandum of Understanding (MoU). This agreement, sealed on April 18, 2024, at the SCOPE Complex in New Delhi, aims to jointly develop grid-connected renewable energy projects including solar, wind, and energy storage solutions.
The MoU was signed by Shri Soumya Kanti Chowdhuri, Chief General Manager of NGEL, and Shri Vikas Poddar, Chief Financial Officer of ITL, in the presence of senior officials from both organizations. This partnership aligns with the Government of India’s initiatives towards achieving a carbon-neutral economy and supports the phased expansion of ITL’s renewable energy portfolio to a Giga Watt scale capacity, in line with its Net Zero commitments.
NTPC Green Energy Limited, a fully owned subsidiary of India’s largest power utility, NTPC, which has a total installed capacity of 76 GW, is dedicated to increasing its renewable energy footprint. NGEL is tasked with developing Renewable Energy Parks and Projects, including ventures in green hydrogen and energy storage technologies. The NTPC Group aims to reach 60 GW of renewable energy capacity by 2032 and currently boasts 3.5 GW of installed renewable capacity with over 28 GW in the pipeline.
Indus Towers Limited, India’s leading provider of passive telecom infrastructure, manages over 211,775 telecom towers across all 22 telecom circles in India. As a pioneer in the telecom sector, ITL has been at the forefront of adopting green energy solutions to power its vast operations.
The collaboration between NGEL and ITL is expected to substantially boost both companies’ contributions to India’s renewable energy sector. This initiative not only supports their business objectives but also aligns with global environmental goals. By leveraging their respective strengths, NGEL and ITL are poised to play pivotal roles in the transition towards sustainable energy solutions, marking a milestone in India’s journey towards a greener future.
This MoU between NTPC Green Energy Limited and Indus Towers Limited is a strategic move that showcases the increasing commitment of major Indian corporations to invest in renewable energy infrastructure. The partnership is likely to accelerate the deployment of innovative energy solutions across India, significantly impacting the national goal of a carbon-neutral economy. The collaboration serves as a model for other companies in the region, emphasizing the importance of joint ventures in the renewable sector for achieving larger environmental targets.