NTPC Green Energy arm bags 300 MW solar project from NHPC
NTPC REL has secured a capacity of 300 MW at a tariff of Rs 3.09/kWh (kilowatt hour). The project will include the establishment of an ESS with a capacity of 150 MW/ 300 MWh.
NTPC Green Energy Limited (NGEL) on Friday said its renewable energy arm has won a 300 megawatt (MW) solar project from the National Hydroelectric Power Corporation (NHPC).
NTPC Renewable Energy Limited (NTPC REL) has emerged as a successful bidder in the e-reverse auction conducted by NHPC, NGEL said in an exchange filing.
The tender was to select solar power developers to set up 1200 MW inter-state transmission system (ISTS) connected solar power projects under tariff-based competitive bidding with a green shoe option, it added.
The tender included 600 MW/1200 MWh energy storage systems (ESS).
NTPC REL has secured a capacity of 300 MW at a tariff of Rs 3.09/kWh (kilowatt hour). The project will include the establishment of an ESS with a capacity of 150 MW/300 MWh.
The auction was concluded on January 23, 2025, and NTPC REL is now awaiting the issuance of the Letter of Award (LOA) from NHPC Limited.
In November 2024, NTPC Green Energy Ltd signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 lakh crore.
NGEL had signed a joint venture with NREDCAP (New and Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh.
The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, Andhra Pradesh Chief Minister N Chandrababu Naidu said.
Around the same time, the IPO of the renewable energy arm of NTPC was fully subscribed on the third day of the share sale. The Rs 10,000-crore share sale received bids for 60,68,16,774 shares, as against 59,31,67,575 shares on offer, translating into 1.02 times subscription as per the NSE data.
(The copy was updated with additional information)
Edited by Suman Singh