Hyderabad, Nov.19 (RAHNUMA): In line with Singareni Collieries Company Limited’s plans to take up renewable energy projects on a large scale, the company has entered into a significant agreement with NTPC’s subsidiary, NTPC Green Energy Limited (NGEL).
The MoU signing ceremony was held in Hyderabad on Wednesday, in the presence of SCCL CMD N. Balram, directors of the company, and senior officials from NGEL including R. Maurya and Bimal Gopal Chari.
Explaining the details of the agreement, SCCL chairman and managing director N. Balram stated that Singareni, as part of its business expansion strategy, has decided to establish several renewable energy plants.
He said the SCCL intends to utilise the long-standing national-level expertise of NTPC in power generation, and therefore entered into this important MoU with NTPC Green Energy Limited, the entity set up by NTPC to focus exclusively on green energy generation.
Balram announced that SCCL has decided to establish a 500 MW pumped storage power plant at the Medipalli open cast mine, increase solar power generation to 5,000 MW, and is exploring the establishment of a Geothermal Power Plant at Manuguru. SCCL is also moving ahead with plans for a Green Hydrogen plant. In this context, the collaboration with NTPC and its subsidiary NGEL, which has vast experience in power generation, as a positive and significant development, he said.
The CMD further noted that the partnership may include technical collaboration and even joint venture participation for establishing green energy projects. SCCL also intends to seek NTPC’s cooperation in the sale of the power generated from these future green energy plants.
NGEL senior officials, including Bimal Gopalachari, head of Business development, and R.R. Maurya, head (civil engineering) said the Singareni’s move to enter the renewable energy sector along with coal production is a welcome and progressive step. They stated that NGEL is also rapidly expanding its footprint in the green energy domain, and that the collaboration between both organisations could pave the way for establishing renewable energy plants both within India and abroad.
They added that following the MoU, project-wise reviews would be conducted and mutually beneficial projects would be selected and executed. They expressed their delight in partnering with Singareni, an organization with a 13-decade-long legacy.
SCCL director (E&M) M.Thirumalar Rao, ED (STPP) Chiranjeevi, GM (coordination & marketing) T. Srinivas, GM Vishwanath Raju and other officials participated in the event.
