Indus Towers and NTPC Green Energy Join Forces to Accelerate Green Push

On April 18, 2024, Indus Towers Limited (ITL), a leading telecom tower infrastructure provider in the country, signed a Memorandum of Understanding (MoU) with NTPC Green Energy Limited (NGEL), a subsidiary of India’s largest power utility company, NTPC Ltd. This strategic collaboration signifies a collective effort to propel India’s green energy ambitions and support the government’s goal of achieving a carbon-neutral economy.

The collaboration holds immense potential for both parties:

NTPC Green Energy: This MoU presents NGEL with the opportunity to leverage its expertise in renewable energy development to partner with a major industry player like ITL. By collaborating on large-scale projects, NGEL can contribute significantly to India’s renewable energy targets.

Indus Towers Limited: The MoU perfectly aligns with ITL’s commitment to achieving net zero emissions. By partnering with NGEL, ITL can secure access to clean and reliable renewable energy to power its vast network of telecom towers across the country. This shift towards renewable energy can significantly reduce ITL’s carbon footprint and enhance its environmental sustainability efforts.

The MoU, signed by Sh Soumya Kanti Chowdhuri, Chief General Manager of NGEL, and Sh Vikas Poddar, Chief Financial Officer (CFO) of ITL, in the presence of senior officials from both organisations, outlines a framework for exploring joint development opportunities. These opportunities encompass grid-connected renewable energy projects, including solar, wind, and energy storage solutions.

This MoU signifies a positive step forward for India’s clean energy transition. The combined expertise of NTPC Green Energy and Indus Towers Limited has the potential to create a ripple effect, inspiring other companies to adopt sustainable practices and contribute to a greener future.

About Indus Towers Limited

Indus Towers Limited is one of the leading providers of passive telecom infrastructure in India. The company deploys, owns, and manages telecom towers and communication structures for various mobile operators. ITL’s portfolio of over 2,11,775 telecom towers makes it one of the largest tower infrastructure providers in the country.

About NTPC Ltd

NTPC is India’s largest power utility company, with a total installed capacity of 76 GW in its core business of power generation. NTPC formed NTPC Green Energy Limited (NGEL), a fully owned subsidiary. As part of increasing its renewable energy portfolio, NGEL took up Renewable Energy Parks and Projects, including businesses in the areas of Green Hydrogen, Energy Storage Technologies, and round-the-clock RE Power.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.