NTPC Floats Tender to Acquire Operational Solar Projects worth 1 GW

With an aim to expand its renewable energy portfolio, state-run NTPC has floated a tender to acquire 1 GW of operational solar projects, entailing an investment of around Rs 5,000 crore.

The power generation major has issued a Request for Proposal (RfP) inviting bids from the promoters or lenders, authorised financial intermediaries of power generation companies (Gencos), independent power producers (IPPs) or developers for offering operational solar-based assets located in India. However, the tender is expected to be finalised by October 2020.

The company is already expanding its renewable energy portfolio and having around 2.298 GW of projects under construction.

Besides, NTPC, formerly known as National Thermal Power Corporation, is having a long-term plan of capacity building through renewable energy sources by over 32 GW till 2032, which comprises of nearly 25 per cent of its overall power generation capacity.

However, it is planning to be a 130 GW-company by 2032 with diversified fuel mix, quoted PTI.

On the other hand, it is also examining to grew its renewable generation capacity through acquisition of an operational solar-based power assets located in India for a minimum capacity of 1 GW. Moreover, it can also increase its power generation capacity instantly either through inorganic growth or acquiring existing operational projects.

Thus, for acquiring about 1 GW of operational solar power capacity, NTPC would have to shell out around Rs 5,000 crore according to the back-of-the-envelope calculations.

As per the normal industry standards, to set up a solar project will require up to 2 years. For the current FY, NTPC is having a capital expenditure plan of Rs 21,000 crore, and most of it would be spent on adding new power generation capacities.

The company is having an aggregate installed capacity of 62.910 GW with 70 power stations comprising 24 coal, seven combined cycle gas/liquid fuel, one hydro, 13 renewables along with 25 subsidiary and JV power stations.

Solar PV | News published on 24/07/2020 by Manu Tayal

 
 
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