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NTPC Green Energy Ltd (NGEL) has signed an initial agreement with Indus Towers Ltd to address the need to accelerate green energy ambitions and the Government of India's initiatives towards a carbon-neutral economy. According to the company release, the MoU (Memorandum of Understanding) would investigate cooperative development of grid-connected renewable energy-based power projects, such as solar, wind, energy storage, etc., and/or solutions.
Indus Towers Ltd (ITL) intends to fulfil its net zero objectives by gradually growing its renewable energy portfolio to giga-watt (GW) scale capacity for its commercial operations across the country.
NTPC is India's largest power utility, with a total installed capacity of 76 GW in its core business of power generation. It has ambitious plans to build 60 GW of RE (Renewable Energy) capacity by the year 2032. Currently, it has 3.5 GW of installed RE capacity and 28+ GW under pipeline.
ITL, India's leading passive telecom infrastructure provider, deploys, owns, and manages over 211,775 telecom towers and communication structures. With a presence in all 22 telecom circles, Indus Towers caters to wireless telecommunication service providers in India.
Also Read : India hopes to produce 5 MT of green hydrogen using new technologies India plans to invest up to $385 billion on renewable energy
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