NTPC Renewable Energy bags 325 MW solar projects in Madhya Pradesh

NTPC Renewable Energy Ltd (REL) has received a Letter of Award (LOA) for 325 megawatt (MW) of solar power projects at Shajapur Solar Park in Madhya Pradesh.

In an official press release the firm said that it has won a capacity of 105 MW worth Rs 2.35 per unit, and also a capacity of 220 MW worth Rs 2.33 per unit in the Rewa Ultra Mega Solar’s auction for 450 MW of solar projects at Shajapur Solar Park in Madhya Pradesh. With this, NTPC has achieved 4.4 gigawatt (GW) capacity through tariff-based competitive bidding.

“Chief Minister of Madhya Pradesh Shivraj Singh Chauhan presented the LoA to Agar, Shajapur, and Neemuch solar park with a capacity of 1,500 MW at Bhopal,” the release said. It added that state discoms and Indian Railways would be purchasing power from these projects.

NTPC’s overall plan is to achieve 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.

Earlier, the NTPC Group reported a net profit of $ 1.85 billion in FY21. It has also announced its target of 10 percent 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. The state-owned power company’s major green energy push is part of the government’s larger plan to push India’s solar and wind generation, which recorded an all-time high of 43.1GW on 27 July this year. India has also crossed the 100 GW milestone of installed renewable energy capacity.

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