New Delhi: The renewable energy arm of NTPC, NTPC Renewable Energy Ltd (REL), has received a Letter of Award (LoA) from Madhya Pradesh Chief Minister Shivraj Singh Chauhan for 325 MW of solar projects in the Rewa Ultra Mega Solar Limited's (RUMSL) Shajapur Solar Park in Madhya Pradesh, the Maharatna PSU said in an official statement on Wednesday. The LoA was received by Mohit Bhargava, the Chief Executive Officer (CEO) of NTPC REL.
"On Wednesday, Shri Shivraj Singh Chauhan presented the letter of award to Agar, Shajapur and Neemuch Solar Park with a capacity of 1,500 MW at Bhopal. State DISCOMs and Railways will purchase power from these projects," the statement said.
NTPC REL has won a capacity of 105 MW worth Rs 2.35/kWh, and a capacity of 220 MW worth Rs 2.33/kWh in the Rewa Ultra Mega Solar Limited's auction held on July 19 for 450 MW of solar projects at Shajapur Solar Park in Madhya Pradesh. With this, NTPC has won 4.4 GW capacity through Tariff-Based Competitive Bidding (TBCB).
State-run NTPC Ltd has doubled its renewable energy (RE) target for 2032 from 32 GW to 60 GW of solar and wind power. NTPC currently has an RE portfolio of 1,350 MW and it plans to add another 13,000 MW of RE by FY24. The pivot towards green energy is part of India's largest thermal power utility's diversification plan as renewable energy tariffs decline and the government has announced its intention to not commission any new thermal power plants (TPP).
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