NTPC arm inks MoU with Indus Towers – EQ
In Short : “NTPC subsidiary signs Memorandum of Understanding with Indus Towers, marking a collaborative effort to advance renewable energy projects and strengthen sustainable infrastructure development.”
In Detail : NTPC Green Energy and Indus Towers signed a memorandum of understanding (MoU) to address the need for pacing green energy objectives and the government of India (GOI) efforts towards carbon neutral economy.
As part of increasing NTPCs renewable energy portfolio, a fully owned subsidiary has been formed as NTPC Green Energy (NGEL) which shall take up renewable energy parks and projects including business in the area of green hydrogen, energy storage technologies, and round the clock RE power.
The scope of MoU is to explore a joint development of grid connected renewable energy based power projects including solar, wind, energy storage etc and/or solutions thereof.
Indus Towers aims to expand its renewable energy portfolio in a phased manner to Giga Watt scale capacity for its business operations spread across the country, as a part of its net zero commitments.
NTPC is India’s largest energy conglomerate. It has presence in the entire value chain of the power generation business. As on 31 March 2024, the Government of India holds 51.10% in NTPC.
Indus Towers is India’s leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.
Shares of NTPC slipped 2.29% to Rs 342.85 while Indus Towers fell 0.58% to currently trade at Rs 349.05 on the BSE.
