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Indus Towers Limited and NTPC Green Energy Limited have joined forces to advance clean energy initiatives nationwide. Through a Memorandum of Understanding (MoU), the two entities will collaborate on developing renewable energy projects to power their operations across India. The focus will be on grid-connected projects involving solar, wind, and energy storage solutions, as outlined in the MoU.
NTPC auction results: Companies secure projects
April 2024 saw the announcement of results for NTPC Limited’s auction to develop 1,000 MW of inter-state transmission system-connected wind-solar hybrid power projects, tranche V. Various companies secured projects, with Sprng Energy, AmpIn Energy Transition, and Juniper Green Energy each winning 150 MW, while ReNew and Avaada Energy secured 300 MW and 250 MW, respectively.
Simultaneously, NTPC Renewable Energy Limited initiated a request for proposals for the balance of the system package for a 500 MW state transmission utility-linked solar project in Bhadla, Rajasthan.
The MoU between Indus Towers and NGEL aims to explore the collaborative development of renewable energy-based power projects, including solar, wind, and energy storage solutions. This initiative aligns with Indus Towers' commitment to expanding its renewable energy portfolio to giga-watt scale capacity, in line with its net zero goals.
NTPC shares traded, Indus Towers legal orders
Market reports indicate substantial early trading activity, with around 6.12 million shares of NTPC traded. Meanwhile, Indus Towers faced legal orders from the State Tax Officer in Surat, Gujarat, and the Deputy Commissioner in Guntur Distt., for the collection of interest and penalty under Goods and Service Tax laws. The company intends to appeal these orders within the stipulated timeline.
The collaboration between Indus Towers and NTPC Green Energy reflects a strategic move towards sustainable energy practices. By leveraging their expertise and resources, the companies aim to contribute significantly to India's renewable energy landscape while advancing their sustainability agendas.
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