Green arm of India's NTPC plans 3-GW renewables tender - report
Solar plant in India. Source: NTPC. License: All rights reserved.
Indian company NTPC Renewable Energy Ltd (NREL) is expected to announce a tender for 3 GW of renewable energy capacity with energy storage in early 2022.
The Press Trust of India (PTI) said, citing an unnamed senior official, that the green energy unit of Indian state-run energy company NTPC Ltd (BOM:532555) is preparing a tender for the engineering, procurement and construction of 3 GW of projects, such as wind and solar farms, with battery storage. The total investment in the new capacity is expected to be around INR 150 billion (USD 2bn/EUR 1.78 bn).
The tender launch is expected by February, according to the unnamed source.
NTPC aims to have 60 GW of renewables capacity in 2032. Today, NREL has almost 1 GW under construction and nearly 2.9 GW in different phases of implementation. The PTI recently said that NTPC was planning to secure a strategic investor for the renewable energy unit before NREL’s initial public offering (IPO), planned for October 2022.