NTPC REL Claims Victory in Major Solar Project Bid

NTPC Green Energy Limited's arm, NTPC Renewable Energy Limited, has secured a 300 MW solar project from NHPC. The bid was part of a 1200 MW solar power initiative with an energy storage component. The project clears the way for NTPC REL to establish advanced solar and storage solutions.

On Friday, NTPC Green Energy Limited (NGEL) announced that its subsidiary, NTPC Renewable Energy Limited (NTPC REL), has been awarded a 300 megawatt (MW) solar project by NHPC. The winning bid emerged from an e-reverse auction executed by NHPC, as documented in an exchange filing by NGEL.

The invitation for bidding aimed to select solar power developers to establish 1200 MW inter-state transmission system (ISTS) connected solar projects, which included a provision for a green shoe option. Moreover, the tender encompassed energy storage systems (ESS) with a capacity of 600 MW/1200 MWh.

NTPC REL successfully acquired a 300 MW capacity at a tariff rate of Rs 3.09 per kilowatt hour. The forthcoming project will incorporate an ESS with a specified capacity of 150 MW/300 MWh. Having concluded the auction on January 23, 2025, NTPC REL now anticipates receiving the Letter of Award (LOA) from NHPC Limited.

(With inputs from agencies.)