NTPC Renewable Energy Ltd., a subsidiary of NTPC Green Energy Ltd., emerged as the successful bidder in Uttar Pradesh Power Corporation Ltd.'s solar power auction on Jan. 3, 2025.
The tender, aimed at selecting solar power developers for 2,000 MW of ISTS-connected solar PV projects across India, saw NTPC REL securing a significant 1,000 MW capacity at an impressive tariff of Rs 2.56 per kWh. The official Letter of Award is awaited.
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Gujarat Projects Move to Operations
NTPC REL has also made strides in Gujarat with the successful commissioning of its solar PV projects:
Sadla Project: 37.5 MW out of 200 MW was declared operational on Dec. 21, 2024.
Mesanka Project: 30 MW out of 150 MW was operationalized from Dec. 11, 2024.
Success In SECI's Renewable Energy Auction
In December 2024, NTPC REL triumphed in the Solar Energy Corporation of India auction for 2,000 MW ISTS-connected solar PV projects. The win includes a 500 MW capacity secured at Rs 3.52 per kWh. Additionally, NTPC REL is tasked with establishing a 250 MW/1000 MWh Energy Storage System as part of the contract.
Additionally NTPC Green Energy has signed significant Memorandum of Understanding for 25 GW of renewable energy projects and one million metric tons per annum of green hydrogen in Rajasthan.
Shares of NTPC Green Energy Ltd. closed 0.12% higher on Friday at Rs 128.10 apiece compared to 0.76% decline in benchmark index Nifty50.
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