NTPC to spend Rs 1,000 crore on research and development in 6 years
NTPC, India’s largest power producer and consumer of coal, has embarked on a near Rs 1,000 crore research and development exercise that will involve groundbreaking work in areas of new and renewable energy, waste management, efficiency improvement and cost reduction.
The company, which recently announced big plans for entering the solar energy sector, has decided to work on developing power generation technologies that will use lesser volumes of coal and thus reduce greenhouse gas emissions. Last year NTPC spent aboutRs 129 crore or nearly 1.2% of its profit after tax on R&D, a senior NTPC official said.
“The company intends to spend increasingly larger sums, at least over 1% each year in the successive years. We hope to spend close toRs 1,000 crore in the next five-six years,” said the official.