Cabinet approves exemption to NTPC to invest in NTPC Green Energy

By Sarkaritel March 18, 2023 07:12

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New Delhi, March 18 (IANS) 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.