Green arm of India's NTPC plans 3-GW renewables tender - report

Solar plant in India. Source: NTPC. License: All rights reserved.

December 31 (Renewables Now) - 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.

(INR 100.0 = USD 1.345/EUR 1.187)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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