NREL reflects deep commitment towards tapping renewable energy
As it envisaged to become a global organization for sustainable development of clean power, NHPC Ltd has incorporated a wholly-owned “NHPC RENEWABLE ENERGY LIMITED (NREL)”.
“The incorporation of NHPC Renewable Energy Limited shows our deep commitment towards tapping Renewable Energy which helps in reduction of carbon emissions and in producing clean and green energy,” NHPC said on 18 Feb 2022.
The decision of setting up a subsidiary for renewable energy comes at a time when NHPC, predominantly a Hydro player, plans to increase the share of renewable energy in its generation portfolio.
In December 2021, the Department of Investment and Public Asset Management and NITI Aayog has approved the establishment of a subsidiary company to develop Renewable Energy Projects either in stand-alone mode or through formation of Special Purpose Vehicles with collaboration of other agencies.
Currently, NHPC’s total installed generation capacity stands at 7,071 mega-watt (MW) which includes 100 MW of Solar/Wind energy-based plants.
Another 5,999 MW of Hydro and 105 MW of Solar Plants are under construction.
NHPC Ltd is expanding its renewable energy portfolio and has taken up several projects under different modes, which are presently under tendering and development stage.
Recently, NHPC signed a Letter of Intent with Rajasthan Renewable Energy Corporation Limited (RRECL) for the development of 10,000 MW Renewable Energy Projects/Parks in Rajasthan”. fiinews.com
