India’s NTPC to Expand Solar Goal, Slow Thermal Power, BNEF Says

• Indias largest power generator, which is spearheadingPrime Minister Narendra Modis ambitious clean-energy goals, is expanding its solar target and slowing down development of its coal-based plants on concerns that the cost of renewables will be cheaper than conventional energy.

• NTPC Ltd.will expand its target of setting up 10-gigawatts of solar capacity,Chairman Gurdeep Singh toldBloomberg New Energy Finance in an interview.

• It will also support building of 15 gigawatts of solar capacity by buying power from producers and selling it to distribution companies.

• The discussions have just started and we are exploring multiple options, Singh told BNEF.

• The generator has also sought bids for building 100 megawatts of wind capacity, as part of its plan to increase it to 1 gigawatt in two years, Singh said.

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