India’s NTPC mulls lifting renewables target - report

Indian power company NTPC Ltd (BOM:532555) is considering revising its installed renewable energy capacity target for 2032 to more than the initially set 28%, The Economic Times said Tuesday, citing a company official.

In 2010, the firm committed to boost its total power generation capacity to 128 GW by 2032, some 36 GW of which were to come from green sources. The company is currently analysing the viability of increasing the renewables share in its corporate plan, chairman and managing director, Gurdeep Singh, told the newspaper.

NTPC plans to enter into 1,000 MW of wind deals whilst installing 10,000 MW of solar photovoltaic (PV) parks. At present, the Indian power major owns and operates an aggregate 47.18 GW, 11% of which comprise green energy facilities.

To fund its ambitious expansion plans, NTPC plans to borrow INR 200 billion (USD 2.99bn/EUR 2.63bn) in financial year 2016/17 alone, finance director, KM Biswal, was quoted as saying. Between INR 60 billion and INR 70 billion will be raised via bond sales on international markets and the balance will be secured through rupee loans and bonds in India.

(INR 10 = USD 0.149/EUR 0.132)

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