New Delhi: State-owned NTPC on Thursday said that its arm NTPC Renewable Energy Ltd (NTPCREL) has bagged a 500 MW renewable energy round-the-clock (RE-RTC) project. The work has been awarded by REMCL, which is a joint venture (JV) company of the Ministry of Railways and RITES Ltd, NTPC said in a statement.
"NTPC REL, a wholly owned subsidiary of NGEL which in turn is a subsidiary of NTPC Limited, received a Letter of Acceptance for 500 MW RE-RTC power from REMCL," it said. The capacity has been won in a competitive bidding process for a total 900 MW RE-RTC on offer, NTPC said, adding a power purchase agreement (PPA) will be signed with Indian Railways for 25 years. Through a combination of solar and wind power, the project would supply round-the-clock green energy to REMCL.
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