New Delhi/Davos: Asserting that NTPC is on its path to become an integrated energy company, the public sector giant’s Chairman and Managing Director Gurdeep Singh on Wednesday said it is time to think about new clean energy solutions including for cooking and cooling purposes.
Speaking at a session on ‘Accelerating Clean Energy Transitions’ during the World Economic Forum’s week-long online Davos Agenda Summit, Singh said, “We are the largest company in our sector. But we are trying to become an integrated energy company rather than only remain a coal-based power company.” The company has set an ambitious target for non-fossil fuel-based capacity to reach 30 per cent of the total installed capacity by 2032.
During the session, where panellists discussed what policies, practices and partnerships are needed to scale up clean energy investments in emerging economies, Singh said a lot of credit goes to the government in India for setting up targets and identifying other areas of work for a well-planned transition to clean energy.
Singh said there is no restriction on foreign companies in India with regard to the power sector and they can invest up to 100 per cent. “There are a lot of companies that are coming,” he added.
With regard to renewable energy, Singh said the capital cost is being brought down by technology and a lot of capital is waiting to be deployed.
“We are going to add at least 30 GW of clean energy and we are not only looking at power because this cannot only be solar energy. When we talk about use in transport systems or for heating purposes in the western part of the world, it can be used for cooling purposes in our part of the world. We need to understand the requirements of citizens for the energy and provide the energy that is clean,” he said.
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