New Delhi, Nov 7 (PTI) State-run power giant NTPC is shaping well for the future with its diversification plans, Power Minister R K Singh said on Saturday.

Singh was speaking on the occasion of 46th Raising Day of NTPC.

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From its current power producing capacity of over 62 GW, NTPC plans to become a 130 GW company by the year 2032.

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"NTPC is shaping up well for the future with its diversification plans and as a responsible corporate, NTPC is committed towards environment and the fast growing capacity addition in the renewable portfolio is testimony to the commitment," Singh said in a statement issued by the company.

In line with the global trend towards renewables, which is a cleaner source of energy, NTPC plans to achieve 32,000 MW of capacity through renewables or 25 per cent of its overall power portfolio at the beginning of the next decade.

Currently, NTPC has 2,404 MW of renewable energy projects under implementation. Out of them, 237 MW comes from floating solar projects located in reservoirs at NTPC''s existing stations.

Singh said during the pandemic, NTPC has ensured uninterrupted power supply to the nation "reinforcing the significance of affordable power in our daily lives".

NTPC is one of the largest companies in India and now it must strive hard to become one of the largest power producers globally, he asserted.

Speaking on the occasion, Power Secretary Sanjiv Nandan Sahai said, “I am glad to see how NTPC is looking to reinvent itself and move forward with its investments in the renewable sphere.” 

He lauded company's efforts in mitigating pollution caused due to stubble burning by co-firing biomass at its power plants. 

Sahai also emphasised on hydrogen as the fuel for future and commended the way NTPC is gearing up for its challenges.

On the occasion, Gurdeep Singh, CMD NTPC, said, “In this financial year, we have added 1,784 MW in spite of challenges posed by the pandemic and ensured uninterrupted power supply to the nation. We are planning to achieve the target of 1 lakh MW of capacity by 2025 and are well placed with our diversification plans in distribution and expansion in renewable portfolio."

The Raising Day celebration began with the flag hoisting ceremony at the Engineering Office Complex (EOC), Noida. 

The ceremony was attended by NTPC officials from locations across the country via online platforms.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)