NTPC bags 40 MW solar projects in UPNEDA's auction

State-run power major NTPC Tuesday said it has won 40 MW solar energy projects in an auction conducted by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). "NTPC participated in UPNEDA's tender for 500 MW Solar capacity with two bids of 20 MW each at Auraiya and Rihand," the company said in a statement.

Reverse auction was carried out on June 25 and NTPC won entire 40 MW of solar capacity at a levellised tariff of Rs 3.02/kWh applicable for 25 years, it said. The projects shall be set up under EPC (engineering, procurement and construction) mode and shall add to the installed capacity of NTPC, the statement said.

With these projects, NTPC has won aggregate solar capacity of 545 MW under tariff-based competitive bidding tenders of states/SECI (Solar Energy Corporation of India).