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Energy

India's top power generator boosts renewables with acquisitions

NTPC buys government stake in two power companies

NTPC has set an aggressive target of setting up 10 GW of renewable portfolio by 2022.

MUMBAI (NewsRise) -- NTPC's acquisition of government's stake in THDC India and North Eastern Electric Power Corp. will help India's largest power-generation utility boost its renewable energy fuel mix and curb the dominance of coal, analysts said.

The state-run power generator signed pacts with federal government on Thursday to acquire New Delhi's entire stake in the two companies for a total of 115 billion rupees ($1.52 billion) in cash.

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