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Business News/ Companies / News/  NTPC REL gets LoA for developing 325 MW in Madhya Pradesh's Shajapur solar park
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NTPC REL gets LoA for developing 325 MW in Madhya Pradesh's Shajapur solar park

NTPC plans to reach 60 GW renewable energy capacity by 2032 from the existing 4GW and invest Rs1 trillion between 2019 and 2024 to become a 130GW power producer by 2032

NTPC preparing for initial public offerings of its clean energy subsidiaries NTPC REL and NTPC Vidyut Vyapar Nigam Ltd. (Photo: Reuters)Premium
NTPC preparing for initial public offerings of its clean energy subsidiaries NTPC REL and NTPC Vidyut Vyapar Nigam Ltd. (Photo: Reuters)

NEW DELHI: NTPC Renewable Energy Ltd (NTPC REL) has received the letter of award (LoA) for developing 325 MW projects in Madhya Pradesh’s Shajapur solar park, the company said in a statement.

This comes in the backdrop of NTPC preparing for initial public offerings (IPOs) of its clean energy subsidiaries NTPC REL and NTPC Vidyut Vyapar Nigam Ltd (NVVN).

“NTPC REL has won a capacity of 105 MW worth 2.35/kWh, and also a capacity of 220 MW worth 2.33/kWh in the Rewa Ultra Mega Solar Limited’s auction held on 19th July 2021 for 450 MW of Solar Projects at Shajapur Solar Park in Madhya Pradesh. With this, NTPC achieves 4.4. GW capacity through Tariff Based Competitive Bidding (TBCB)," the statement said.

“On Wednesday, Shri Shivraj Singh Chauhan presented the letter of award to Agar, Shajapur and Neemuch Solar Park with a capacity of 1500 MW at Bhopal. State DISCOMs & Railways will purchase power from these projects," it said.

NTPC plans to reach 60 GW renewable energy capacity by 2032 from the existing 4GW and invest Rs1 trillion between 2019 and 2024 to become a 130GW power producer by 2032. 

NTPC Group reported a net profit of $1.85 billion in FY21. It has also announced its target of 10% reduction in net energy intensity as part of its energy compact goals. The public sector unit has an installed capacity of around 67 GW across 70 power projects, and 18 GW under construction.

“NTPC REL received a Letter of Award (LoA) from Hon’ble Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chauhan for 325 MW of Solar Projects in the Rewa Ultra Mega Solar Limited’s (RUMSL) at Shajapur Solar Park in Madhya Pradesh," said the statement, added that, “Shri Mohit Bhargava, CEO (NTPC REL) received the letter of award."

The state-owned power major green energy push is part of the government’s playbook with India’s solar and wind generation recorded an all-time high of 43.1GW on 27 July. India has also crossed the 100 GW milestone of installed renewable energy capacity.

NTPC has also secured a raft of project contracts under the aegis of International Solar Alliance (ISA) in Cuba, Niger and Malawi to help set up solar parks to meet these countries’ electricity demands. NTPC is also eyeing similar opportunities in other ISA member countries in Africa such as Sudan, Congo, Mozambique, Egypt, Uganda, Rwanda, Gambia, Tanzania, Senegal, and Zimbabwe. NTPC has been engaged as a facilitator by ISA and is targeting to help set up 10 giga watt (GW) capacity in ISA member countries.

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Updated: 02 Sep 2021, 12:43 PM IST
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