As India seeks to increase its renewable capacity, India has asked two state hydropower companies to bid for solar and wind power projects.
Raj Kumar, Union Energy Minister of India, has asked THDC India Limited and Northeast Electric Power Company to increase capital expenditure, Bloomberg News Agency reported.
India, which receives 70 per cent of its electricity from coal – will increase its capacity to generate energy from renewable sources to four times its current capacity of 450 gigawatts by 2030.
Nevertheless, according to “Bloomberg”, coal is expected to be an important component of the country’s energy composition for decades. Minister Rajkumar Singh asked DHTC India Limited to create new business units to work in the thermal power and mining sectors.
The company is currently building a 1,320 MW coal-fired power plant near the capital, New Delhi, with a coal mine in the center of the country.
DHTC India Limited and Northeast Electric Power Corporation are part of the state-owned NTPC Limited, India’s largest power generation company.
In addition, Reliance Industries, which is controlled by billionaire Mukesh Ambani, “has set up a wholly-owned company in the United Arab Emirates to trade in oil, petrol, petrochemicals and agricultural products,” it told the stock exchange yesterday.
These projects follow the announcement in June that the Indian Pole will invest in Abu Dhabi National Oil Corporation (ADNOC) plans to produce chemicals that can be used for infrastructure and consumer goods. Reliance has invested $ 1 million in a new branch of Reliance International Limited, which, according to data released yesterday, has not yet commenced business operations. Reliance has said that investing in the new company cannot be classified as a party transaction and that no regulatory approval has been sought. The company operates the world’s largest oil refinery in the western Indian state of Gujarat.