Mumbai, 19th April 2024: NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) today signed a Memorandum of Understanding (MoU), to address the need for pacing green energy objectives and the GoI’s efforts towards carbon neutral economy.
The MoU was signed by Shri Soumya Kanti Chowdhuri, Chief General Manager, NGEL and Shri Vikas Poddar, Chief Financial Officer (CFO), ITL in the presence of other senior officials from NTPC and ITL on 18th April 2024 at SCOPE Complex, New Delhi.
The MoU shall explore a joint development of grid connected Renewable Energy based Power Projects including Solar, Wind, Energy storage etc. and/or solutions thereof. Indus Towers Limited 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 it’s Net Zero commitments.
NTPC is India’s largest Power Utility with core business of power generation having a total installed capacity of 76 GW. As part of increasing its renewable energy portfolio, a fully owned subsidiary has been formed namely “NTPC Green Energy Limited” (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. NTPC Group has ambitious plans of 60 GW of RE capacity by the year 2032 and currently it has 3.5 GW of installed RE capacity and 28+ GW under pipeline.
Indus Towers Limited is India’s leading provider of passive telecom infrastructure and it deploys, owns, and manages telecom towers and communication structures, for various mobile operators. The company’s portfolio of over 2,11,775 telecom towers, makes it one of the largest tower infrastructure providers in the country with presence in all 22 telecom circles. Indus Towers caters to all wireless telecommunication service providers in India. The Company has been the industry pioneer in adopting green energy initiatives for its operations.