NEW DELHI State-run NTPC (NTPC.NS), the biggest power producer in India, said it was preparing to start commercial operations at three new solar power plants, doubling its capacity from solar energy sources.
NTPC has vowed to raise the amount of energy it generates from renewable resources as it aims to diversify away from conventional fuels including coal because of insufficient domestic supplies, which have forced it to buy costly imports.
The three new plants total 45 megawatts and bring NTPC's renewable energy capacity to 75 MW, the company said in a regulatory statement on Monday.
But non-conventional energy projects account for a tiny fraction of NTPC's total commercial capacity of 41,859 MW.
Separately, NTPC said it had signed a memorandum of understanding with the Ministry of Power with a pledge to try and add 2,023 MW of capacity in 2014-2015.
(Reporting by Tommy Wilkes; editing by Jane Baird)
New RBI chief's policies to broadly echo Rajan's: Reuters poll
BENGALURU Indian monetary policy is likely to stay broadly unchanged when Urjit Patel takes over as Reserve Bank of India governor, according to a Reuters poll, but his approach to cleaning up public banks' bad debts could be less stringent.
Interview: Oil market rebalancing could take until end 2017 - Shell
STAVANGER, Norway The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell's chief energy adviser Wim Thomas told Reuters.
Wall St. gains as data points to budding economy
NEW YORK Financial and commodity-sector stocks led the S&P 500 higher in a low-volume session on Monday after consumer spending rose for a fourth straight month, pointing to a pick-up in U.S. economic growth.