+
NCRTC Signs PPA For 110 MW Captive Solar Plant
POWER & RENEWABLE ENERGY

NCRTC Signs PPA For 110 MW Captive Solar Plant

The National Capital Region Transport Corporation has signed a power purchase agreement with NIRL NCRTC Renewables Limited to develop a 110 megawatt (MW) captive solar plant at Jaulan in Uttar Pradesh. The project carries an estimated cost of around Rs 4.5 billion (Rs 4.5 bn) and will be funded on an 80:20 debt equity model. Commissioning is scheduled within 24 months.

Once operational the plant is expected to supply nearly 60 per cent of the electricity requirement of the Delhi-Meerut Namo Bharat corridor, reducing the need for external procurement. The captive facility is projected to lower the corporation's annual electricity expenditure by around 25 per cent. The arrangement signals a shift towards self-generation for corridor operations.

Developed by NNRL, the joint venture incorporated in May 2026, the project combines NCRTC equity with NLC India Renewables Limited as majority partner. NIRL holds a 74 per cent equity stake in the joint venture while NCRTC retains 26 per cent. The plant represents the partners' effort to expand renewable generation capacity to meet operational demand.

Environmental benefits were estimated by the developers with an annual carbon dioxide reduction of approximately 0.177 million tonnes (0.177 mn t) once the plant reaches full output. The company signalled that captive solar adoption will enhance grid resilience for the corridor and reduce exposure to market price volatility. Project timelines and financing structures position the scheme as a model for other transport infrastructure operators. Regulatory clearances and land and interconnection works remain essential to meet the commissioning timeline.

Stakeholders indicated the financing mix will support timely procurement of panels, inverters and balance of plant equipment while enabling risk sharing between equity partners and lenders. Technical studies and connection agreements with the regional transmission utility are under way and are due to be completed during early construction. The partners will monitor generation performance to align output with corridor demand. The scheme is positioned to inform other transit oriented renewable initiatives.

The National Capital Region Transport Corporation has signed a power purchase agreement with NIRL NCRTC Renewables Limited to develop a 110 megawatt (MW) captive solar plant at Jaulan in Uttar Pradesh. The project carries an estimated cost of around Rs 4.5 billion (Rs 4.5 bn) and will be funded on an 80:20 debt equity model. Commissioning is scheduled within 24 months. Once operational the plant is expected to supply nearly 60 per cent of the electricity requirement of the Delhi-Meerut Namo Bharat corridor, reducing the need for external procurement. The captive facility is projected to lower the corporation's annual electricity expenditure by around 25 per cent. The arrangement signals a shift towards self-generation for corridor operations. Developed by NNRL, the joint venture incorporated in May 2026, the project combines NCRTC equity with NLC India Renewables Limited as majority partner. NIRL holds a 74 per cent equity stake in the joint venture while NCRTC retains 26 per cent. The plant represents the partners' effort to expand renewable generation capacity to meet operational demand. Environmental benefits were estimated by the developers with an annual carbon dioxide reduction of approximately 0.177 million tonnes (0.177 mn t) once the plant reaches full output. The company signalled that captive solar adoption will enhance grid resilience for the corridor and reduce exposure to market price volatility. Project timelines and financing structures position the scheme as a model for other transport infrastructure operators. Regulatory clearances and land and interconnection works remain essential to meet the commissioning timeline. Stakeholders indicated the financing mix will support timely procurement of panels, inverters and balance of plant equipment while enabling risk sharing between equity partners and lenders. Technical studies and connection agreements with the regional transmission utility are under way and are due to be completed during early construction. The partners will monitor generation performance to align output with corridor demand. The scheme is positioned to inform other transit oriented renewable initiatives.

Related Stories

Gold Stories

Next Story
Resources

NCC Founder and Padma Shri Awardee AVS Raju Passes Away at 89

Dr Alluri Venkata Satyanarayana Raju, founder and Chairman Emeritus of NCC Limited and a Padma Shri awardee, passed away in Hyderabad on 13 October 2026. He was 89.Born on 18 April 1937 in Antarvedipalem village in Andhra Pradesh's erstwhile East Godavari district, Raju began his entrepreneurial journey in 1956. He established Nagarjuna Construction Company (NCC) Limited in 1978, which subsequently emerged as one of India's leading construction and infrastructure companies.Under his leadership, NCC became a public limited company in 1990 and expanded into one of India's prominent listed constr..

Next Story
Infrastructure Transport

Embraer to Acquire 51 Per Cent Stake in Mahindra Aerospace Arm

Brazilian aerospace major Embraer will acquire a 51 per cent equity stake in Novavayu Aerospace, a step-down subsidiary of Mahindra and Mahindra, under an Investment Agreement notified by the automobile company in an exchange filing. The transaction will give Embraer control of the aerospace business. Following completion of the acquisition, Novavayu Aerospace will cease to be a wholly owned subsidiary and become an associate of Mahindra Defence Systems, which is a step-down wholly owned subsidiary of Mahindra and Mahindra. The agreement is expected to be completed on or before December 1. Mah..

Next Story
Infrastructure Urban

RBI Opens Special Dollar Window for Three State-Run OMCs

The Reserve Bank of India (RBI) has opened a special facility to meet the entire daily US dollar requirements of three public sector oil marketing companies (OMCs), in a move aimed at easing pressure on the Indian rupee. The facility will take effect on October 12, 2026, and remain available until further notice. Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are eligible to use the arrangement. Under the facility, the RBI will sell US dollars to the three companies through designated banks, allowing them to meet their oil-import payments without sourc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code