NTPC REL receives letter of intent for 550 MW solar project

NTPC Renewable Energy Limited (NTPC REL, a subsidiary of NTPC Limited) has received a letter of intent (LOI) for a 550 MW solar project. The project is a part of a 1,250 MW inter-state transmission system connected solar tender awarded by REC Power Development and Consultancy Limited (RECPDCL) at a tariff of Rs 2.56 per kWh. The tender was issued in December 2022.

The electricity that will be generated will be used in accordance with a plan put forth by the Indian government to allow for greater flexibility in the generation and scheduling of thermal power plants by coupling it with renewable energy capacity. A capital investment worth Rs 28 billion is required for the execution of the project. Further, the project must be commissioned within 18 months from the date of LOI.

Additionally, in order to fulfil the capacity secured in tariff-based competitive bidding mode in Q1-2023 alone, NTPC REL will need to implement over 2 GW renewable energy capacity after receiving this 550 MW allocation. Presently, the NTPC group has 3.3 GW of operational renewable energy capacity, and 6 GW of capacity, that is in various phases of implementation. Further, a capacity of 12 GW is up for auction which includes a 4 GW energy storage system and a sizable hydrogen-based energy storage cum microgrid system. By 2032, NTPC intends to achieve 60 MW renewable energy capacity.

Recently, in June 2023, NTPC REL republished a tender for the supply of battery energy storage systems for solar power projects in the Khavda Renewable Energy Park in Gujarat’s Kutch region.

In the same month, NTPC announced its plans to examine the potential of floating solar capacity in various states and union territories (UTs) across India. According to the notification, it has solicited bids from consultants to conduct a feasibility assessment on establishing floating solar PV plants on reservoirs in various states and UTs.