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.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
