NTPC Renewable Energy secures 1,000 MW solar PV project in UPPCL auction

New Delhi: NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has emerged as the successful bidder for a significant 1000 MW capacity in the solar PV power project auction conducted by Uttar Pradesh Power Corporation Limited (UPPCL).

PSU Watch is now on Whatsapp Channels. Click here to join

The competitive auction, held on January 3, 2025, was part of UPPCL's initiative to select solar power developers for setting up 2000 MW of ISTS-connected Solar PV Power Projects in India under tariff-based competitive bidding. NTPC REL secured the 1000 MW capacity with an impressive tariff bid of Rs 2.56 per kWh. This information was shared by NTPC REL in a regulatory filing to the stock exchanges on January 4.

The Letter of Award (LOA) confirming the project allocation is expected to follow soon, marking another milestone for NTPC REL in its pursuit of renewable energy leadership.

NGEL is a subsidiary of NTPC Limited, India’s largest power utility, dedicated to expanding renewable energy portfolios through its focused subsidiaries.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)