NTPC Green Energy CEO Outlines Plans To Become 19 GW Company By FY27
Rajiv Gupta, CEO of NTPC Green Energy, outlines the company's roadmap to achieve 19 GW by FY27, including a recent 1 GW solar project win in Uttar Pradesh with a Rs 2.56/kWh tariff.
NTPC Green Energy Ltd. is set to become a 19-gigawatt (GW) company by FY27, the company’s Chief Executive Officer, Rajiv Gupta, said on Wednesday. His statement comes in the wake of NTPC Green Energy’s successful bid for a 1,000-megawatt solar project from Uttar Pradesh Power Corporation Ltd. The project, with a tariff of Rs 2.56/kWh, is part of a larger initiative to establish 2,000 MW of ISTS-connected solar PV power projects in India.
Talking to NDTV Profit, the NTPC Green Energy CEO detailed his company’s plans for capacity addition.
“I will tell you how we are programming to achieve our capacity addition. You see, in the current financial year, we are targeting adding 3 gigawatts of capacity to our existing capacity. Next year, we plan to add another 5 gigawatts, and the following year, another 8 gigawatts,” Gupta said.
This will make NTPC Green Energy a 19-gigawatt company by the end of FY27, he mentioned.
“So we intend to be a 19-gigawatt company by the end of FY27,” Gupta said.
He further revealed the completion timeline of the recent project win from the UP government-owned company.
“We have won this project in an auction that the UP government had taken out, and we have a 1-gigawatt capacity here. The timeline for this is 24 months from the date of signing of the PPA (purchase power agreement), which we expect to be completed in the next 60 to 90 days,” he said.
The top executive further emphasised that NTPC Green Energy is "fairly secured" with respect to the Rs 2.56/kWh tariff at which the project has been awarded.
“If you see the market has been almost hovering around at this rate for most of its tenders. So, this is the benchmark that is there in the industry today,” Gupta said.
He stressed that this tariff will aid the company in achieving its targeted margins.
“We believe we will be able to earn the margins that we have set up for ourselves with this tariff,” the NTPC Green Energy CEO stated.
Shares of NTPC Green Energy Ltd. dropped to Rs 120.50 in trade so far on Thursday. The stock was down by 3.23% at 12:26 pm at Rs 121.40 apiece against the benchmark Nifty 50's decline of 0.52% to 23,562.60 points at the same time.
