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Friday, May 24, 2024

NTPC green energy inks MoU with Indus Towers

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Mumbai: NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) on Friday signed a Memorandum of Understanding (MoU) to address the need for pacing green energy objectives and the GoI’s efforts towards a carbon-neutral economy.

The MoU will 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 gigawatt-scale capacity for its business operations spread across the country as a part of its Net Zero commitments.

NTPC is India’s largest power utility, with a core business of power generation and 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 areas of green hydrogen, energy storage technologies, and round-the-clock renewable power.

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 a presence in all 22 telecom circles. Indus Towers caters to all wireless telecommunication service providers in India. The company has been an industry pioneer in adopting green energy initiatives for its operations.

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