The state-run NTPC Renewable Energy (NTPC-REL), the company plans to install 1.5 GW of renewable energy capacity this year. "This year, we plan to build 1.5 GW of renewable energy capacity, and our capital expenses will be around Rs 10,000 crore. This capital expenditure number covers both current and future projects, as well as pipeline developments, he noted in an exclusive interview.
This capex is at the level of NTPC Renewables, not just NTPC REL. The majority of this 150 MW megawatt's (MW) capacity will be used for solar power. All remaining power is solar, with about 150 MW going to wind-related projects. He noted that only hybrid projects include the wind capacity. Bhargava stated that out of their entire aim of 60 GW capacity, NTPC-REL is currently working on a pipeline of 20 GW of renewable energy projects. Bhargava also discussed the subsidiary's solar project timeline for the upcoming years.
"Of this, 3.3 GW are in service, more than 7 GW are under construction, and we intend to put orders for the remaining 10 GW in the upcoming 10 to 12 months as well. A significant portion of this should be operating by 2026, we hope", he continued. The business intends to investigate the most affordable storage choices. We are researching the most affordable storage choices. The decision is left to the bidders. This comprises the battery and pumped storage that we use to store electricity. Everything we have done up to this point has been independent of technology, claimed Bhargava.
In order to secure storage for the purpose of supplying around-the-clock power, NTPC-REL has previously issued bids for pumped storage and battery storage. A fully owned subsidiary of NTPC is NTPC- REL. It was established with the intention of boosting the company's use of renewable energy and expanding its environmental impact domestically and abroad. Under the Ultra Mega Renewable Energy Power Park programme, it is taking on solar, wind, and hybrid projects and creating gigawatt-scale renewable energy parks in several states. It has also dabbled in green hydrogen-powered transportation.