PremiumState-run power major NTPC has signed a statement of intent with Niti Aayog to develop the roadmap for the public sector company to achieve net zero greenhouse emissions. The statement of intent was signed on Wednesday, 20 June
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NEW DELHI : State-run power major NTPC has signed a statement of intent with Niti Aayog to develop the roadmap for the public sector company to achieve net zero greenhouse emissions.
A company statement said that the statement of intent was signed on Wednesday, 20 June.
“Paving the pathway towards greening the power sector of country, the SoI seeks to formalize a framework of cooperation between the parties to facilitate NTPC to strategies on diversification of its generation mix to eventually reduce its carbon footprint and support India’s endevour towards achieving net zero by 2070," it said.
As the Centre announced the ‘Panchamrit’ goals during CoP 26 in November 2021, NITI Aayog is working on the development of different scenarios or pathways for achieving net zero by 2070.
With 17% of installed generation capacity of the country, NTPC meets around 24% of country’s power requirement. With this collaboration, NTPC would be able to utilize the expertise of NITI Aayog’s energy team for emissions and energy (portfolio mix) modelling including development of scenarios for 2030, 2037, 2047 and 2070 and also get assistance in establishment of Carbon Management Unit (CMU) in NTPC with the aim of integrating all GHG reduction initiatives under one umbrella.
In line with government’s plant to achieve 500 GW of renewable energy by 2030 and net zero carbon emission by 2070, NTPC along with other power companies and public sector majors is giving a major focus on renewable energy.
In a separate development NTPC also signed an MoU with MASEN (Moroccan Agency for Sustainable Energy) on 20 June for cooperation in renewable energy sector.
Recently, the company also signed an agreement with Indian Oil Corporation Ltd for the formation of a joint venture company for meeting the power requirements of upcoming projects of IndianOil refineries.
NTPC shares on the BSE closed at ₹150.70, higher by 0.10% from its previous close