NTPC Renewable Energy Ltd, has signed a term sheet with Greenko ZeroC Pvt Ltd to Supply 1300 MW Round the Clock RE Power for powering Greenko’s upcoming Green Ammonia Plant at Kakinada on the Andhra Pradesh coast.

The agreement between the two companies is one of the world’s single largest contract for supply of round-the-clock renewable supply for an industrial client.

The term sheet was signed at the NTPC office in New Delhi on Tuesday by Rajiv Gupta, chief general manager, NTPC Renewable Energy Ltd and Mahesh Kolli, Founder and Joint MD, Greenko Group.

Mohit Bhargava, CEO (NTPC Renewable Energy Ltd), Anil Chalamalasetty, Founder and MD, Greenko and other senior officials from NTPC REL were also present on the occasion.

Public sector power giant NTPC is taking various steps to make its energy portfolio greener by adding significant capacities of Renewable Energy (RE) Sources.

By 2032, the company plans to have a minimum of 32000 MW capacity through RE sources constituting nearly 25% of its overall power generation capacity.

NTPC is pursuing capacity addition in Renewable Energy projects in two modes namely Own capacity addition mode and Developer Mode.

In Own capacity addition mode, NTPC sets up Renewable Energy projects on its own investment. In Developer Mode, NTPC acts as an intermediary procurer where it procures power from the Developers and sells to DISCOMs with a trading margin.

NTPC currently has a commissioned capacity of 920 MW of RE projects under its own capacity addition.