NTPC REL wins bid for 325 MW solar projects in Madhya Pradesh

On Wednesday, NTPC Renewable Energy Limited (NTPC REL) told the media that it has obtained a Letter of Award (LoA) for installing 325 MW solar energy plants at Shajapur Solar Park in Madhya Pradesh. NTPC REL has obtained a 105 MW capacity of Rs 2.35 per unit and a 220 MW capacity of Rs 2.33 per unit in the Rewa Ultra Mega Solar’s auction for 450 MW of solar plants at Shajapur Solar Park in Madhya Pradesh. With this, NTPC has gained 4.4-gigawatt capacity via tariff-based competitive bidding. Shri Shivraj Singh Chauhan granted the letter of award on Wednesday to Shajapur, Agar and Neemuch Solar Park with a 1500 MW capacity at Bhopal. State discoms and Railways will acquire power from these plants. NTPC intends to reach 60 GW of renewable energy capacity by 2032 from the present 4GW and fund Rs 1 trillion between 2019 and 2024 to become a 130 GW power generator by 2032. NTPC Group recorded a $1.85 billion net profit in FY21. It has also declared its objective of a 10% decrease in net energy intensity as part of its energy compact aims. The public sector unit has an established capacity of about 67 GW across 70 power plants and 18 GW under construction. The state-owned power major green energy drive is part of the government’s playbook, with India’s solar and wind production reported at an all-time high of 43.1 GW on 27 July. India has crossed the 100 GW milestone of established renewable energy capacity. Image Source Also read: India's solar capacity rose to 251% with 4,578 MW installations in 1H