As Panchabuta has reported in November last year, NTPC has signed a joint venture with Asian Development Bank (ADB), Kyushu Electric Power Japan to set up 500MW renewable power in 3 years in India. Under the joint venture agreement, ADB will invest up to 40 million dollars for a 25 percent stake in the company. The move is part of ADB’s goal of investing two billion dollars a year in renewable energy and energy efficiency projects in Asia and the Pacific to help put the region on a sustainable development path. NTPC will have a 50 percent holding in the company with Kyushu Electric Power owning the remaining 25 percent.
According to a report in The Hindu Business Line, NTPC has announced plans to spend upwards of Rs.56 billion on green projects in the next five years and the plan includes 300MW of Solar PV and Thermal across eight states and about 175Mw of wind in two states. The projects are slated to be implemented during the Twelfth Five-Year Plan starting March 2012.
According to the report, NTPC has announced that the majority of the above mentioned projects are being taken up on their own and that a majority of the projects on the anvil are being set up on surplus land available with the company at its existing power station sites, thereby ensuring that the problems in land acquisition are avoided.
It is unclear how NTPC has made this decision to locate the projects on surplus land given that they intend to develop solar and wind projects. Solar and Wind projects are location specific wind more so than solar.