NTPC REL Secures Bid for 900 MW Solar Project in PFCCL’s 1250 MW Solar Tender

NTPC will be responsible for procuring the energy generated through this project, strategically designed to replace thermal power sourced from existing PPAs of NTPC with various State DISCOMs.

NTPC Renewable Energy Limited has successfully secured a bid for a 900 MW capacity in the solar tender initiated by PFCCL on behalf of NTPC Ltd. This pertains to the selection of 1250 MW ISTS-Connected Solar PV Power Projects in India under the Flexibility Scheme.

The reverse auction for this tender took place on December 21, 2023, conducted by PFCCL. The discovered tariff resulting from the auction is ₹2.53/kWh. NTPC Ltd. will be responsible for procuring the energy generated through this project, which is strategically designed to replace thermal power sourced from existing Power Purchase Agreements (PPAs) of NTPC Ltd. with various State Distribution Companies (DISCOMs).

At present, the NTPC Group boasts an operational renewable energy capacity of 3.36 GW, with an additional nearly 20 GW in the pipeline. The commitment of NTPC is clearly outlined in its ambitious goal to achieve a staggering 60 GW of Renewable Energy capacity by the year 2032.

The significance of this achievement lies in its contribution to India’s solar power landscape, aligning with broader environmental and sustainability goals. The procurement of 900 MW capacity at the discovered tariff of ₹2.53/kWh reflects a competitive and economically viable approach in the renewable energy sector.

The decision to utilise solar power for this substantial capacity underscores a strategic shift towards cleaner and more sustainable energy alternatives. By replacing thermal power with solar energy, NTPC Ltd. aims to enhance its environmental footprint and contribute to India’s transition to a greener energy landscape.

It is important to note that the success of this bid not only secures a significant capacity for NTPC Renewable Energy Limited but also positions NTPC Ltd. as a key player in the nation’s renewable energy journey. The forward-looking approach demonstrated through participation in such tenders and the commitment to achieving 60 GW of Renewable Energy capacity by 2032 signals NTPC’s role as a catalyst for sustainable energy development in India.

The recent win in the solar tender by NTPC Renewable Energy Limited is a noteworthy achievement that aligns with India’s renewable energy targets. The utilisation of solar power to replace thermal energy, coupled with the ambitious capacity goals, positions NTPC as a frontrunner in shaping the future of clean and sustainable energy in the country.