India's government-owned National Thermal Power Corporation , the country's largest power generator (producing one-fifth of India's generation capacity), has signed a deal with Gujarat Power Corp., to set up more than 500 MW of alternative energy projects.
The agreement, marked by the signing of a memorandum of understanding (MoU) between the two firms, signifies the initial step toward NTPC's goal of producing over 1,000 megawatts of power from renewable sources (solar, wind and geothermal power projects) by 2014.
Under the plan, NTPC will set up 100 megawatts of solar and 400 megawatts of wind power projects in Gujarat, a state that is realizing breakneck industrial growth. First on the agenda will be a 50-megawatt solar power plant in Morwada, a rural village in the Gujarat's Saurashtra region, which is expected to be commissioned within 30 months. NTPC has existing conventional power projects in Gujarat.
Under the plan, NTPC will set up 100 megawatts of solar and 400 megawatts of wind power projects in Gujarat, a state that is realizing breakneck industrial growth. First on the agenda will be a 50-megawatt solar power plant in Morwada, a rural village in the Gujarat's Saurashtra region, which is expected to be commissioned within 30 months. NTPC has existing conventional power projects in Gujarat.
NTPC is aggressively pursuing efforts to more than double its installed power generation capacity by 2017. Coal, which supplies more than half of the South Asian nation's energy needs, is still its primary focus. While India has the world's fourth-largest coal reserves, its coal imports are growing quickly as NTPC moves to beef up its capacity (the company is actively pursuing contracts to mine coal in Australia, Indonesia and Mozambique).
But clean alternatives are destined to gain increasing importance. Renewable energy development is still in its infancy in India, but the government has slated $900 million to increase energy production from solar technology. It has also made a commitment to reducing its greenhouse gas emissions by 25% by 2030.
Indian officials estimate that the country's electricity generating capacity will fall 20% short of their target for new power generation for the five-year period ending in 2012. Blackouts are still common in India and many domestic households have spotty electrical service. Most large-scale industrial operations build and operate their own power plants in order to ensure a reliable supply of electricity.
As India ramps up its manufacturing machine and the nation's power-hungry population of 1.1 billion continues to drain more capacity, the rapidly expanding demand has NTPC looking for energy wherever they can find it.
By some estimates by 2050 nearly 70% of the electricity produced in India will come from renewable energy sources
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