NTPC, India's state-owned power giant, has announced a target of producing 40 million tonnes of coal from its captive mines for FY 2024-25, which is a 16% rise from achieved output in the previous fiscal, according to the company's statement.
The company aims to achieve this target to strengthen its fuel security and reduce dependency on external sources. By producing 40 million tonnes of coal from its captive mines in FY 2024-25, NTPC expects to fulfill over 15% of its coal requirement, the company noted.
In the previous fiscal ending March 31, NTPC achieved a total coal production of 34.38 million tonnes, with dispatches standing at 34.15 million tonnes.
NTPC Limited, formerly known as National Thermal Power Corporation Limited, is India's largest power utility, contributing significantly to the country's power generation sector. Established in 1975, NTPC is a public sector undertaking under the Ministry of Power. It is engaged in the generation and sale of electricity, with a focus on thermal power production.
NTPC also plans to add 3 GW of renewable power capacity and 2 GW of thermal capacity in the ongoing fiscal. By the end of March, the company held a total capacity of nearly 76 GW.
NTPC aims to expand its non-fossil-based capacity to 45-50% of company portfolio by 2032, with renewable energy capacity rising to 60 GW.
(Writing by Alex Guo Editing by Harry Huo)
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