NTPC Green Energy Ltd (NGEL), a division of Indian state-owned power giant NTPC, has signed an initial pact with India's leading passive telecom infrastructure provider Indus Towers Ltd (ITL), related to the need to pursue green energy objectives and support for the government's efforts towards a carbon-neutral economy.
The memorandum of understanding (MoU) aims to explore joint development of grid-connected renewable energy-based power projects including solar, wind, energy storage and related solutions.
ITL reportedly aims to expand its renewable energy portfolio in a phased manner to gigawatt (GW) 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. Its power generation business has a total installed capacity of 76 GW. NGEL is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes. It aims to be the flag-bearer of NTPC’s green energy journey to achieve the ambitious target of 60 GW of renewable energy by 2032.
Currently, according to India’s Economic Times, it has 3.5 GW of installed renewable energy capacity and a little over 28 GW in the pipeline.
ITL, formed by the merger of Bharti Infratel Limited and Indus Towers, is one of the largest telecom tower companies in the world.
It has over 211,775 towers and 360,679 co-locations and a nationwide presence covering all of India's 22 telecom circles. Its leading customers are the three main Indian operators, Bharti Airtel, Vodafone Idea and Reliance Jio.
