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India’s NTPC to Expand Solar Goal, Slow Thermal Power, BNEF Says

  • NTPC may invest in solar parks, electric car infrastructure
  • Coal power generator concerned about reverse grid-parity

India’s largest power generator, which is spearheading Prime Minister Narendra Modi’s ambitious clean-energy goals, is expanding its solar target and slowing down development of its coal-based plants on concerns that the cost of renewables will be cheaper than conventional energy.

NTPC Ltd. will expand its target of setting up 10-gigawatts of solar capacity, Chairman Gurdeep Singh told Bloomberg New Energy Finance in an interview. It will also support building of 15 gigawatts of solar capacity by buying power from producers and selling it to distribution companies. It is exploring new opportunities such as solar-equipment manufacturing, solar parks and electric vehicle-charging infrastructure.