NTPC Renewable Energy Ltd which is a wholly owned subsidiary of NTPC Green Energy Ltd, has become the successful bidder in a e-reverse auction. This auction was conducted by Uttar Pradesh Power Corporation Ltd (UPPCL) regarding a solar PV project. NTPC Energy Awarded 1000MW Solar project is quite significant in that is portrays strategic expansion of the company. This shows the company’s goal towards expanding its renewable energy portfolio. This marks a significant step in increasing its capacity in the renewable energy sector. This information was revealed by a written statement issued to the public by NTPC on 4th January 2025.
Moreover, this tender was aimed at “Selection of Solar Power Developers for establishing a 2000MW ISTS-connected Solar PV Power Projects in India. The tendering process was conducted under a Tariff-Based Competitive Bidding.” This process was conducted on January 3, 2025.
Furthermore, NTPC did launch a joint venture known as “NTPC UP Green Energy Ltd withUttar Pradesh Rajya Vidyut Nigam Ltd (UPRVUNL). This joint venture has been incorporated on January 01,2025 as mentioned in the filing. Moreover, NTPC Green Energy will be the major stakeholder with 51% in the JV, while the remaining 49% stake will be under the control of UPRVUNL.
“The Ministry of Power via its letter dated on 22nd February 2024 forwarded its concurrence of DIPAM and NITI Aayog, which revealed the approval for the formation of JVC between NGEL, which is a subsidiary of NTPC Ltd and UPRVUNL, which is a U.P. Government project,” the company mentioned in the filing.
Project Factsheet
Project Capacity: The project boasts an impressive capacity of 1,000 MW
Tariff: Rs 2.56/kWh
Auction Type: The auction was E-reverse auction
Project Type: It is an ISTS-connected solar PV power project
Bidder: NTPC Renewable Energy Ltd (NTPC REL), which is a wholly-owned subsidiary of NTPC Green Energy Ltd (NGEL)
Auction Date: The auction took place on January 3, 2025
Letter of Award: Awaiting official confirmation from UPPCL
Also read: 120MW solar power project to be developed in Gujarat, India
NTPC Energy Awarded 1000MW Solar Project: What is the Tarrif of the Project Secured?
Moreover, NTPC REL managed to secure an impressive capacity of 1000MW (1GW) at a tariff worth ₹2.56 per kWh. Additionally ,as for now, the Letter of Award from UPPCL is what they are waiting for.
Lastly, the company recently made an announcement on the Commencement of the commercial operations for the first part of its 200 megawatt solar project that is located in Gujarat.
Also read: Adani to Construct World’s Largest Renewable Energy Project in Gujarat India
