NTPC floats tender to buy 1 GW of solar parks in India
Solar plant in India. Source: NTPC. License: All rights reserved.
Indian power producer NTPC Ltd (BOM:532555) has issued a request for proposals (RfPs) in a bid to acquire at least 1 GW of operational solar power capacity across India.
The state-run company opened the bidding round on Friday and will await techno-commercial proposals by September 22, 2020. Price bids will be made afterwards.
The tender invites promoters, lenders, power generation companies, independent power producers and developers. The offered assets can be either a special purpose vehicle or a standalone unit and must have a minimum capacity of 50 MW. Another requirement is that the power purchase agreements (PPAs) of the plants have a tariff lower than or equal to INR 5 (USD 0.067/EUR 0.058) per kWh, approved by the respective State or Central Regulatory Commission. Eligible projects should have been in operation for at least a year.
The initiative is part of NTPC’s goal to have at least 32,000 MW of renewable energy assets by 2032, which will account for almost 25% of its overall power production capacity. Currently, the company has around 2,298 MW of projects under construction.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.