Oct 13, 2014 - Indian power producer NTPC Ltd (BOM:532555) has proposed to build a 750-MW solar park in the state of Madhya Pradesh for a total investment of over INR 50 billion (USD 816m/EUR 643m), its chairman told the Business Standard.
In an interview published on Saturday, chairman Arup Roy Choudhury explained that the plant will be installed in the Rewa district of the central Indian state, with construction to be carried out during the next few years.
NTPC has already sealed a Memorandum of Understanding (MOU) for the photovoltaic (PV) project, which will have three 250-MW phases. Land for the scheme has already been identified and the developer is currently holding talks with the state government, Choudhury said. The plant will use 250 MW of locally-made PV equipment, while the rest will be supplied by foreign companies. It is seen to start generating power within a year after land acquisition.
As part of its solar expansion, NTPC aims to add 3,500 MW of PV capacity in the next few years, including projects in the states of Andhra Pradesh, Telangana and Rajasthan. At the end of September, the power producer invited bids for the development of 250 MW of solar projects in Andhra Pradesh.
(INR 100 = USD 1.632/EUR 1.286)
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