Cabinet Clears NTPC's Rs 20,000-Crore Investment In Renewable Energy
The Cabinet also clears an investment of Rs 7,000 crore by NLC India in renewables.
The Cabinet Committee on Economic Affairs, headed by Prime Minister Narendra Modi, on Wednesday approved an investment of Rs 20,000 crore by power producer NTPC in renewable energy.
The Cabinet also cleared an investment of Rs 7,000 crore by NLC India in renewables.
Shares of NTPC Green, the renewable energy arm of NTPC, jumped 1.72% to close at Rs 111.98 apiece on the NSE, while the shares of NLC India settled 3.81% higher at Rs 283.40 apiece.
'The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has granted enhanced delegation of power to NTPC Limited for making investment in NTPC Green Energy Limited (NGEL), and subsequently, NGEL investing in NTPC Renewable Energy Limited (NREL) and its other JVs/ subsidiaries beyond 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 Renewable Energy Capacity by 2032," said government in a statement.
The enhanced delegation given to NTPC and NGEL will facilitate accelerated development of renewable projects in the country. This move will also play a vital role in strengthening power infrastructure and ensuring investment in providing reliable, round-the-clock electricity access across the nation, according to the statement.
'The Cabinet Committee on Economic Affairs… has approved a special exemption for NLC India Ltd (NLCIL) from the prevailing investment guidelines applicable to Navratna Central Public Sector Enterprises (CPSEs). This strategic decision enables NLCIL to invest Rs 7,000 crore in its wholly owned subsidiary, NLC India Renewables Limited (NIRL) and in turn NIRL investing in various projects directly or through formation of Joint Ventures, without the requirement of prior approval under the existing delegation of powers," an official statement said.
According to the statement, the country is aiming to reach 500 GW of non-fossil energy capacity by 2030. As a Central Public Sector Enterprise and the leading Power Utility of the Country, NTPC, aims to add 60 GW of Renewable Energy Capacity by 2032 which will help the Country in achieving the aforesaid target and move towards larger aim of having 'Net Zero' emissions by 2070, said government.
view comments
First Published:
July 16, 2025, 14:56 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
4 minutes ago
- Hans India
Naxalite couple surrenders before DGP
Vijayawada: Two senior Maoists J Nagaraju,state zonal committee member and incharge of East Bastar divisional committee and his wife M Jogeswari, divisional committee. member surrendered before Director General of Police Harish Kumar Gupta today. The Naxal couple frustrated with Maoist failures and surrendered before police to join main stream. Nagaraju carries a reward of Rs 20 lakh and Jogeswar has a reward of Rs 5 lakh. The DGP handed over cheques of Rs 20000 each to the couple for immediate relief.
Indian Express
4 minutes ago
- Indian Express
‘Law of limitation binds everybody, including govt': Telangana High Court dismisses TSIDC's appeal due to 514-day delay
The Telangana High Court Friday dismissed an appeal filed by the Telangana State Industrial Development Corporation (TSIDC) against an order of a commercial court, citing an 'unexplained' and 'unreasonable' delay of 514 days in filing the plea. The bench of Justice Moushumi Bhattacharya and Justice BR Madhusudhan Rao was hearing an appeal filed by TSIDC challenging a commercial court order dated February 16, 2023, which dismissed its appeal seeking a decree of over Rs 1.3 crore with an annual interest at 17.5 per cent against the respondents. The appeal was filed on December 26, 2024, accompanied by an application for condonation of the significant delay of 514 days. The high court's rejection of TSIDC's appeal means that the original claim of Rs 1,30,31,000, with interest, which was already dismissed by the commercial court, remains dismissed. During the proceedings, the TSIDC filed two affidavits citing the delay and attributed it to several factors such as long time taken to understand the impugned order, officials being occupied with the state and Union election duties leading to a halt in decision-making on legal matters, the file going untraceable, and a change in leadership with three vice chairpersons and managing cirectors taking charge in quick succession. However, the bench found that 'the dates mentioned in the two affidavits contain several unexplained time-gaps..' Specifically, it found a four-month gap between the day the certified copy of the order was ready and the day when the Telangana Assembly elections were announced. Similarly, it found another six-month gap between the polling dates of the Telangana elections and the general elections, for which no explanation was provided. The court also observed that the TSIDC only realised the matter was pending in November 2024 when respondent No. 1 sought the return of original title deeds. This prompted the search for the missing file that was eventually traced in the second week of December 2024. The appeal was filed on December 26, 2024. While TSIDC relied on section 5 of The Limitation Act, 1963, which allows filing of an appeal or any application beyond the prescribed period of time subject to the court being satisfied of the sufficiency of cause shown by the appellant or applicant for the delay, the bench noted that 'the burden of proving the sufficiency of cause lies with the appellant or applicant.' Referring to various Supreme Court judgments, the high court reiterated that delay beyond the prescribed period, particularly in matters under the Commercial Courts Act, 2015, should be condoned by way of exception, not as a rule. 'There is little doubt that the objective of a special statute like The Commercial Courts Act, 2015, is to ensure speedy resolution of high-value commercial disputes, without any exceptions. The focus is on quick resolution which includes government entities when they are parties to commercial disputes,' the order read. The judgment firmly stated that the 'law of limitation binds everybody, including the government'. Noting that the exercise of discretion under section 5 of The Limitation Act, 1963, empowers the court to entertain an appeal or application beyond the prescribed period of limitation subject to the court being satisfied of the sufficiency of cause shown by the applicant/appellant, the court observed, 'Sufficient cause must reflect a sense of purpose and a willingness to restore diligence. The reasons shown cannot be slipshod or nonchalant so as to demand condonation as a matter of entitlement. It must be borne in mind that delay may have created equity in favour of another in the interregnum.' The bench also noted that one of the grounds for the original impugned order against TSIDC was that its claim was already barred by limitation. 'Thus, it is all the more difficult to accept that the appellant would slip into a slumber for 514 days after having suffered an order, inter alia, on the ground of delay,' the court noted. Finding no satisfactory reason to condone the 514-day delay, the high court dismissed TSIDC's application for condonation of delay, consequently rejecting the commercial court appeal. Rahul V Pisharody is an Assistant Editor with the Indian Express Online and has been reporting from Telangana on various issues since 2019. Besides a focused approach to big news developments, Rahul has a keen interest in stories about Hyderabad and its inhabitants and looks out for interesting features on the city's heritage, environment, history culture etc. His articles are straightforward and simple reads in sync with the context. Rahul started his career as a journalist in 2011 with The New Indian Express and worked in different roles at the Hyderabad bureau for over 8 years. As Deputy Metro Editor, he was in charge of the Hyderabad bureau of the newspaper and coordinated with the team of district correspondents, centres and internet desk for over three years. A native of Palakkad in Kerala, Rahul has a Master's degree in Communication (Print and New Media) from the University of Hyderabad and a Bachelor's degree in Business Management from PSG College of Arts and Science, Coimbatore. Long motorcycle rides and travel photography are among his other interests. ... Read More
&w=3840&q=100)
Business Standard
4 minutes ago
- Business Standard
PM Modi to dedicate projects worth ₹4,800 cr in Tamil Nadu's Tuticorin
Prime Minister Narendra Modi will inaugurate numerous projects besides dedicate to the nation, various developmental initiatives, all totally worth over Rs 4,800 crore, here on Saturday. The PM would inaugurate the new terminal building at the airport, developed at a cost of around Rs 450 crore, and would undertake a walk through the new terminal building, according to an official release. He will dedicate to the nation two strategically significant highway projects - 4-laning of 50 km SethiyathopeCholapuram stretch of NH-36, developed for over Rs 2,350 crore under the VikravandiThanjavur corridor, and 6-laning of the 5.16 km NH-138 Tuticorin Port Road, built at around Rs 200 crore. He would inaugurate North Cargo BerthIII with a cargo handling capacity of 6.96 MMTPA at V O Chidambaranar Port established at a cost of Rs 285 crore, and dedicate three key railway infrastructure projects in southern Tamil Nadu to boost sustainable and efficient connectivity. The projects are--electrification of 90 km MaduraiBodinayakkanur line, doubling of 21 km Nagercoil TownKanniyakumari section, and doubling of AralvaymozhiNagercoil Junction (12.87 km) and TirunelveliMelappalayam (3.6 km) sections. In addition, Modi will lay the foundation stone for the Inter-State Transmission System (ISTS) for the evacuation of electricity from Kudankulam Nuclear Power Plant Units 3 and 4 (21000 MW). This project, developed at a cost of around Rs 550 crore, will include a 400 kV (quad) double-circuit transmission line from Kudankulam (Tirunelveli dt) to the Tuticorin-II GIS substation and associated terminal equipment. It will play a pivotal role in strengthening the national grid, ensuring reliable clean energy distribution, and meeting the rising power demands of Tamil Nadu and other beneficiary states, it said.
