NTPC bags 325 MW solar power project in Madhya Pradesh

National Thermal Power Corporation Pvt Ltd (NTPC) has been awarded a 325 MW solar capacity out of the total 450 MW Madhya Pradesh solar tender issued by Rewa Ultra Mega Solar Limited (RUMSL). NTPC Renewable Energy Limited (NTPC REL) acquired 105 MW and 220 MW solar capacity at Rs 2.35 per kWh and Rs 2.33 per kWh, respectively. The solar power capacity is to deploy solar power plants within the Shajapur Solar Park in Madhya Pradesh. According to the sources, SolarArise, funded by Kotak Mahindra, European Investment Bank and ThomasLloyd, won the remaining 125 MW solar capacity at Rs 2.34 per kWh. About 25% of solar power generated from this project will be supplied to the Indian Railways in seven states. The principal secretary of the MP government, Manu Srivastava, said that rather than focusing on discoms to buy renewables unwillingly, the state should facilitate institutional consumers to obtain inexpensive solar power. Earlier this month, the state-run company also got approval from the Ministry of New and Renewable Energy (MNRE) for setting up a solar capacity project of 4,750 MW in Gujarat. NTPC plans to install a capacity of 60 GW renewables by 2023 from its current 14 GW capacity. Currently, it has 66 GW of installed capacity and 18 GW additional capacity under construction. Image Source Also read: Vikram Solar to invest Rs 5,000 cr to double capacity to 5,000 MW Also read: SECI floats tender for 1,200 MW ISTS solar projects in Karnataka