NEW DELHI: As India achieves 50 per cent of its installed electricity capacity from non-fossil fuel sources, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved enhanced delegation of power to NTPC Ltd for investing in NTPC Renewable Energy Ltd. and its other joint ventures/subsidiaries to set up renewable energy capacity with an outlay of up to Rs 20, 000 crore.
The Cabinet granted enhanced delegation of power to NTPC Limited from the extant guidelines of delegation of power to Maharatna CPSEs for making investment in NTPC Green Energy Limited (NGEL), a subsidiary company and subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/subsidiaries, "beyond the earlier approved prescribed limit of Rs 7, 500 crore up to an amount of Rs 20, 000 crore for renewable energy (RE) capacity addition to achieve 60 GW capacity by 2032".
According to an official statement, the enhanced delegation given to NTPC and NGEL will facilitate the accelerated development of renewable projects in the country.