NTPC Green Energy Issues EOI to Acquire Solar Assets

NTPC Green Energy Ltd. (NGEL), a wholly owned subsidiary of NTPC Ltd., has invited Expressions of Interest (EOIs) from renewable energy companies across India for the acquisition of operational solar assets.

The invitation targets companies holding exclusive Power Purchase Agreements (PPAs) with intermediary procurers, NTPC Ltd. and/or NVVN Ltd., with a minimum cumulative capacity of 50 MW.

With this, the firm aims to bolster NGEL’s green energy portfolio through inorganic growth, aligning with NTPC’s target of achieving 60 GW of renewable energy capacity by FY32. NGEL currently operates over 6 GW of installed RE capacity, with an additional 12 GW under development.

To qualify, solar projects must meet stringent eligibility criteria. They must have a minimum cumulative installed capacity of 50 MW (AC) and possess a valid Power Purchase Agreement (PPA) exclusively with NTPC Ltd. or NVVN Ltd., acting as intermediary procurers. The PPA must have a residual term of at least 10 years from the EOI submission date. Projects must be operational with secured land (freehold or leased) and grid connectivity.

For leased land, the lease tenure must cover the remaining project life, typically 25 years. Additionally, applicants must ensure compliance with statutory regulations, maintain valid insurance, and have operational and maintenance (O&M) arrangements in place. The asset-holding entity must be registered in India, with 100 percent equity available for acquisition.

The last date for submitting queries or clarifications is T+7 days from the EOI issuance date of May 17, 2025. The deadline for submitting EOI responses and the date for opening these responses is T+10 days . EOI submissions must remain valid for 1 year from the last date of submission.

Shortlisted applicants may proceed to negotiate a Share Purchase Agreement (SPA), contingent upon statutory approvals from bodies such as the Department of Investment and Public Asset Management (DIPAM). NGEL reserves the right to cancel or modify the EOI process at any stage without liability.

This EOI underscores NGEL’s strategy to accelerate India’s renewable energy transition by acquiring stable, grid-connected solar assets.

Prospective bidders must verify PPA exclusivity, land tenure, and regulatory compliance. Submissions should avoid deviations or multiple bids to prevent disqualification. Refer the document for more details.