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NEW DELHI: As part of NTPC Ltd’ pivot towards green energy, the state-run firm's subsidiary NTPC Renewable Energy Ltd (NTPC REL) has won the bid to set up 450 megawatt (MW) of solar power projects at Shajapur solar park in Madhya Pradesh.

India’s largest power generation utility quoted the lowest tariff of 2.35 per kWh and 2.33 per kWh for setting up 105 MW and 220 MW capacity respectively.

“NTPC Renewable Energy ltd (NTPC REL), a 100% subsidiary of NTPC, has emerged winner at the Rewa Ultra Mega Solar Limited (RUMSL) auction for a 450 MW of solar projects at the Shajapur Solar Park in Madhya Pradesh (M.P)," the PSU said in a statement.

The bid was called by Rewa Ultra Mega Solar Ltd. (RUMSL), a joint venture between state-run Solar Energy Corporation of India (SECI) and Madhya Pradesh UrjaVikas Nigam Ltd, that is bidding out a 1.5GW capacity at its solar parks at Agar, Shajapur and Neemuch.

“The tender received overwhelming response from the bidders with a total of 15 bidders being shortlisted," the statement added.

NTPC REL is also setting up India’s largest solar park of 4.75 gigawatt (GW) at Rann of Kutch in Gujarat from where it will generate green hydrogen on a commercial scale.

“Recently, NTPC REL has been given the go-ahead by MNRE on 12th July 2021 under Mode 8 (Ultra Mega Renewable Energy Power Park) of Solar Park Scheme," the statement said.

This comes in the backdrop of reports about NTPC’s plans to list NTPC Renewable Energy Ltd. The PSU has also announced its target of 10% reduction in net energy intensity as part of its energy compact goals. NTPC plans to invest 1 trillion between 2019 and 2024 to become a 130GW power producer by 2032. Of this, 60 GW will come from renewable energy sources.

“Currently, the state-owned power major has an installed capacity of 66 GW across 70 power projects with an additional 18 GW under construction," the statement said.

NTPC’s pivot towards green energy comes at a time when India is considering a proposal to make it mandatory for fertilizer plants and oil refineries to purchase green hydrogen as part of plans to cut the nation’s dependence on fossil fuels. NTPC Renewable Energy Ltd has also inked a pact with the union territory of Ladakh on Tuesday to setup a green hydrogen mobility project in the region.

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