NGEL and ITL join alliance for green energy advancement – EQ
In Short – NGEL and ITL forge alliance to advance green energy initiatives. This collaboration represents a pivotal step towards sustainable development, leveraging NGEL’s expertise in renewable energy and ITL’s technological innovation. Together, they aim to accelerate the transition to clean energy solutions, contributing to environmental preservation and energy security. By pooling resources and knowledge, the alliance seeks to drive meaningful impact in the renewable energy sector.
In Details – NTPC Green Energy Ltd. (NGEL) and Indus Towers Ltd. (ITL) have inked a Memorandum of Understanding (MoU) aimed at advancing green energy initiatives in alignment with the Government of India’s efforts towards achieving a carbon-neutral economy. The MoU was signed by Soumya Kanti Chowdhuri, Chief General Manager of NGEL, and Vikas Poddar, Chief Financial Officer (CFO) of ITL, in the presence of senior officials from both NTPC and ITL on April 18, 2024, at SCOPE Complex, New Delhi.
Under the MoU, collaborative efforts will be made towards the development of grid-connected Renewable Energy based Power Projects, including solar, wind, energy storage, and related solutions. Indus Towers Limited aims to progressively expand its renewable energy portfolio to achieve gigawatt-scale capacity across its operations nationwide, as part of its commitment to achieving net-zero emissions.
NTPC boasts a total installed capacity of 76 GW. To bolster its renewable energy portfolio, the company has established a wholly-owned subsidiary, NGEL, which will spearhead Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round-the-Clock RE Power. The NTPC Group has ambitious plans to reach a 60 GW RE capacity by 2032, with 3.5 GW already installed and over 28 GW in the pipeline.
Indus Towers Limited stands as India’s premier provider of passive telecom infrastructure, specialising in the deployment, ownership, and management of telecom towers and communication structures for various mobile operators. With a portfolio encompassing over 211,775 telecom towers, the company ranks among the largest tower infrastructure providers nationwide, serving all wireless telecommunication service providers across India.
