NTPC Limited has become the first energy company in the energy domain in India to declare its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE).
Context
NTPC Limited has become the first energy company in the energy domain in India to declare its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE).
- It is India’s largest power generating company under the Ministry of Power.
About the NTPC Energy compact goals
- NTPC is among the few organizations globally to declare its Energy Compact goals.
- NTPC has set a target to install 60 GW of renewable energy capacity by 2032.
- India’s largest power producer is also aiming at a 10% reduction in net energy intensity by 2032.
Energy intensity
- It is defined as the amount of energy used to produce a given level of output or activity. Using less energy to produce a product or provide a service results in reduced energy intensity.
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- NTPC has declared that it will form at least 2 international alliances/groups to facilitate clean energy research and promote sustainability in the energy value chain by 2025.
- Measures: NTPC has been taking various steps in increasing its green energy portfolio by adding significant capacities of Renewable Energy (RE) sources.
- The Company had earlier planned to have a minimum of 32 GW capacity through RE sources constituting nearly 25% of its overall power generation capacity by 2032.
- Significance:This development will prove to be a huge boost for the nation’s largest energy producer that will catapult its position in the green energy map of the country.
UN High-level Dialogue on Energy (HLDE)
- Following the General Assembly resolution 74/225, a High-level Dialogue on Energy will be convened at a summit-level during the 76th session of the UN General Assembly in September 2021 in New York.
- It aims to accelerate SDG 7 action for the achievement of the 2030 Agenda for Sustainable Development and the Paris Agreement on climate change.
- The Dialogue represents the first inclusive global gathering on energy under the auspices of the General Assembly since the UN Conference on New and Renewable Sources of Energy held in Nairobi in 1981.
- It presents a historic opportunity to provide transformational action in the first years of the Decade of Action to deliver the SDGs and support the implementation of the Paris Agreement.
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