Active Stocks
Thu Mar 28 2024 15:19:25
  1. Tata Steel share price
  2. 155.75 1.90%
  1. ICICI Bank share price
  2. 1,091.10 0.65%
  1. HDFC Bank share price
  2. 1,446.15 0.38%
  1. ITC share price
  2. 429.05 0.25%
  1. Power Grid Corporation Of India share price
  2. 275.85 1.77%
Business News/ Companies / NTPC signs purchase deal for Andhra solar power plant
BackBack

NTPC signs purchase deal for Andhra solar power plant

Two Andhra Pradesh discoms agree to procure 250 MW of the power generated from the planned project

The power from the solar power plant is to be procured at Rs6.16 per unit for 25 years. Photo: BloombergPremium
The power from the solar power plant is to be procured at Rs6.16 per unit for 25 years. Photo: Bloomberg

Mumbai: NTPC Ltd on Friday said it has entered into a power-purchase agreement (PPA) with Andhra Pradesh distribution utilities for the first phase of its 1,000 MW solar power project being set up in the state.

Andhra Pradesh Eastern Power Distribution Co. Ltd (APEPDCL) and Andhra Pradesh Southern Power Distribution Co. Ltd (APSPDCL) have agreed to procure 250 MW of the power generated from the planned solar power project.

The power is to be procured at Rs6.16 per unit for 25 years.

NTPC expects the power generation cost to be lower for the remaining 750 MW capacity of the plant. “The power generation cost may further come down with regard to the remaining 750 MW capacity as that portion of the project would be undertaken through global bidding process, unlike in the first phase where only the domestic venders were involved," said I.J. Kapoor, director (commercial) with NTPC, said in the statement.

In September, NTPC had signed an agreement with Andhra Pradesh for the development of a 1,000 MW solar power project. The engineering, procurement and construction contract for the first phase of this plant is to be awarded shortly and expected to be on stream in 18 months.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 24 Apr 2015, 07:18 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie