Geo-thermal technology involves utilisation of heat from rocks and fluids in the earth's crust to generate electricity.
The country's first geo-thermal project by power major NTPC may get a boost with the proposed visit of Prime Minister Narendra Modi to the US.
NTPC chairman and managing director Arup Roy Choudhury said they are contemplating cooperation from the US to harness the geo-thermal project for which it has already signed a memorandum of understanding with the Chhattisgarh government.
"We may need to send a team to the US to identify agencies for collaboration. But this will be taken at the government level after the Prime Minister's visit to the US. "At present, the geo-thermal project is at an exploratory stage and the DPR is being prepared," Choudhury said on the sidelines of The Bengal Chamber-organised environment and energy conclave here today.
Also read: NTPC may revise Katwa power capacity to 1980MW
Discussions on the Indo-US cooperation for harnessing India's geo-thermal potential is expected to take place with Prime Minister Narendra Modi's visit to the US. NTPC first signed a MoU with the Chhattisgarh Renewable Energy Development Agency to set up the project at Tattapani. It signed the second MOU in January this year with the Geological Survey of India for preparation of a detailed project report.
Geo-thermal technology involves utilisation of heat from rocks and fluids in the earth's crust to generate electricity. Speaking about exploring renewables, Choudhury said NTPC is laying emphasis on developing a solar portfolio and had invited tender for 1,000 MW of solar power project. "We have already invited tender for 100 MW.
We are talking to states like Madhya Pradesh, Andhra Pradesh and Rajasthan, who are keen on developing solar energy parks," Choudhury said. NTPC aims to set up 3,000 MW of solar power project over the next 3-3.5 years. He, however, made clear that the company has put thermal power projects worth 22,000 MW under execution and 8,000-10,000 MW is under pipeline.
Choudhury said prima facie it is not affected by the recent Supreme Court order on allocation of coal blocks and its coal mining operations will proceed.
NTPC stock price
On August 22, 2014, NTPC closed at Rs 137.70, down Rs 1.65, or 1.18 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 110.90.
The company's trailing 12-month (TTM) EPS was at Rs 12.91 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 10.67. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.32.
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