Both NTPC and Adani Green Energy are pivotal in advancing India’s renewable energy sector
India’s renewable energy sector is witnessing rapid growth, with NTPC Limited and Adani Green Energy Limited (AGEL) emerging as prominent players. Both companies have ambitious plans to expand their renewable energy portfolios, contributing significantly to India’s clean energy goals. This article provides a detailed comparison of NTPC and Adani Green, focusing on their current capacities, future targets, financial performance, and recent developments.
Current Renewable Energy Capacities
NTPC’s total installed capacity stands at 76,443 megawatts (MW), with a substantial portion dedicated to renewable energy sources. The company has been actively increasing its renewable capacity, commissioning projects like the 55 MW Shajapur solar project in Madhya Pradesh.
Adani Green Energy, on the other hand, has rapidly expanded its renewable portfolio. By July 2023, AGEL’s operational capacity reached 8,316 MW, marking a 43% increase from the previous year. This growth includes significant additions in solar-wind hybrid capacity, solar power plants, and wind power projects.
Future Expansion Plans
NTPC has set an ambitious target to achieve 60 GW of renewable energy capacity by 2032. In the near term, the company aims to commission 19,000 MW by March 2027, focusing on solar and wind projects. The funds raised through NTPC Green Energy’s recent initial public offering (IPO) are intended to support these expansion efforts.
AGEL plans to scale its renewable capacity to 45 GW by 2030, aligning with India’s clean energy objectives. The company is actively working towards its net-zero target by 2050, with ongoing projects like the Khavda renewable energy plant in Gujarat, which is poised to be one of the world’s largest renewable clusters.
Financial Performance and Market Presence
NTPC Green Energy’s IPO in November 2024 raised approximately ₹10,000 crore, reflecting strong investor confidence. The stock debuted at ₹111.5 on the NSE, a 3.2% premium over the issue price, and has since seen significant appreciation.
AGEL has also attracted substantial investments. In August 2024, TotalEnergies agreed to invest $444 million in a solar power joint venture with AGEL, reinforcing the company’s financial position and commitment to renewable energy expansion.
Recent Developments and Challenges
NTPC continues to diversify its energy mix, commissioning new renewable projects and exploring opportunities in green hydrogen and battery storage. The company’s strategic initiatives aim to reduce its carbon footprint and align with global sustainability trends.
AGEL has faced challenges, including allegations of bribery related to securing solar power contracts. These issues have raised concerns about corporate governance and could impact future investments. Despite these challenges, AGEL remains a key player in India’s renewable energy landscape.
Both NTPC and Adani Green Energy are pivotal in advancing India’s renewable energy sector. NTPC’s methodical expansion and strong financial backing position it as a reliable contributor to the country’s clean energy goals. AGEL’s rapid growth and ambitious targets underscore its significant role, though it faces challenges that require careful management. As India strives to achieve 500 GW of renewable capacity by 2030, the performance and strategies of these companies will be instrumental in shaping the nation’s energy future.
