NTPC Limited signed a non-binding MoU with National Aluminium Company Limited (NALCO) engaged in Aluminium production.
Under the MoU, NTPC and NALCO to explore various options e.g. Coal based Thermal, Solar PV, Wind, any other RE, Energy Storage or any combination of same.
NTPC and NALCO to supply about 1200 MW or more of round-the-clock uninterrupted power to cater to requirement of NALCO for its expansion of smelter plant capacity in Angul, Odisha.
The MoU was signed in the presence of Shri Dillip Kumar Patel, Director (HR), NTPC and Shri Jagdish Arora, Director (Project &Technical), NALCO at SCOPE Complex, New Delhi.
About NTPC
NTPC is India’s largest power utility with an installed capacity of 73,888 MW (including JVs), plans to become a 130 GW company by 2032. Established in 1975, NTPC aims to be the world’s largest and best power major.
NTPC has comprehensive Rehabilitation & Resettlement and CSR policies well integrated with its core business of setting up power projects and generating electricity. The company is committed to generating reliable power at competitive prices in a sustainable manner by optimising the use of multiple energy sources with innovative eco-friendly technologies thereby NTPC is contributing to the economic development of the nation and upliftment of the society.
About NALCO
National Aluminium Company Limited (NALCO) is a Schedule ‘A’ Navratna CPSE established on 7th January, 1981 having its registered office at Bhubaneswar. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. At present, Government of India holds 51.28% of paid up equity capital. The Company has been operating its captive Panchpatmali Bauxite Mines for the pit head Alumina refinery at Damanjodi, in the District of Koraput in Odisha and Aluminium Smelter & Captive Power Plant at Angul. As a part of green initiative, NALCO has installed 198 MW Wind Power Plants at various locations in India and 850 kWp roof top Solar Power Plants at its premises to join hands for carbon neutrality. From the days of first commercial operation since 1987 the Company has continuously earned profits for last 36 years. NALCO is one of the leading foreign exchange earning CPSEs of the Country. The Company continues to retain its position of lowest cost producer in Bauxite and Alumina production in the World in 2022.
Capitalising the market opportunity the Company could achieve high sales realisation, positively impacting the top line and bottom line in FY 2021-22. Revenue achieved Rs. 14,181 crore and Highest ever PAT of Rs. 2,952 crore achieved in FY 2021-22.
