NTPC Green Energy Arm Wins 500 MW Solar Power Deal In SECI Auction
NTPC Renewable Energy Ltd., a wholly owned subsidiary of NTPC Green Energy Ltd., on Tuesday won the bid in the e-reverse auction conducted by the Solar Energy Corp. for the development of 2,000 megawatt solar power projects.
The auction was held on Dec. 9 and includes the establishment of energy storage systems with a total capacity of 1,000 MW and 4,000 MW hours, according to an exchange filing.
The company secured 500 MW of solar power capacity at a tariff of Rs. 3.52 per kilowatt hour. As per the terms of the tender, the company is required to set up an energy storage system of 250 MW or 1,000 MWh along with the contracted solar capacity.
Following the auction win, the company will receive the Letter of Award from SECI.
Last month, NTPC Renewable Energy started commercial supply of electricity from the first part of 55 MW at the Shajapur solar project in Madhya Pradesh.
NTPC Green Energy is a subsidiary of state-run power giant NTPC Ltd. The total installed and commercial capacity of the NTPC Group stands at 76,530.68 MW.
NTPC Green Business
Incorporated in April 2022, NTPC Green's total portfolio stands at 25.67 gigawatts, with an operational portfolio of 2.93 GW. Its contracted and awarded capacity stands at 14.7 GW, and projects under pipeline stand at 10.98 GW. Its total portfolio consists of 20.32 GW of solar capacity and 5.35 GW of wind capacity.
As of fiscal 2024, NTPC Green's market share, depending on how many bids it won, stood at 7%. This has declined from 18% in fiscal 2022, according to Morgan Stanley.
NTPC Green's share price closed 1.31% higher at Rs 146.65 apiece, ahead of the announcement, compared to a flat BSE Sensex.
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