The investment will be centered in solar energy, wind energy and floating solar projects with floating solar having a large portion of its potential.
NTPC reports that the state of Telangana can produce as much as 6,700 MW on floating solar farms and installations alone, hence one of the most promising areas to apply floating solar.
The proposal was brought out by NTPC CMD Gurdeep Singh in a meeting with Telangana Chief Minister A. Revanth Reddy at Hyderabad.
Speaking at the meeting, Gurdeep Singh emphasized that the NTPC aims at achieving the renewable energy goals of India in general and Telangana in particular with the target of economic growth and sustainable development of the state.
Chief minister Reddy assured of the full cooperation of the state government and hoped that the projects would result in employment and enhance the status of the state as far as the renewable energy production is concerned.
Floating solar power technology, an environmentally friendly technology, has multiple advantages that it brings, such as a decrease in land usage, a drastic increase in the efficiency of the panels, and water conservation due to the reduction in water evaporation.
The envisaged investment commends with the larger objective of NTPC, which is to substantially increase its green footprint and attain high renewable capacity in 2032.
This is a positive indication of a high level of cooperation between the populace and the Telangana government, and the mutual effort is bound to hasten the clean and green energy future of the state.