NTPC to add 10 GW solar energy generation capacity by 2022
The project will see an investment of around Rs 50,000 crore
NTPC is planning to add 10 GW solar energy generation capacity by 2022. The project will see an investment of around Rs 50,000 crore, to be funded mainly by green bonds.
Currently, the company has an installed renewable energy capacity of 920 MW, which mainly includes solar energy. It has formulated a long term plan to become 130 GW company by 2032, with 30% of renewable energy capacity.
The company will also set up some solar energy projects under the scheme where it gets viability gap funding to keep tariff below Rs three per unit level.
NTPC will complete the tendering of 2,300 MW solar energy capacity by the end of FY20. It has also planned to add four GW each in 2020-21 and 2021-22.
The company is open to any borrowing option in the market, which is economical, but will mainly rely on green bonds which are offered for pure clean energy projects.
It will also set up solar energy projects without any long term i.e. for 25 years power purchase agreements (PPA) as it intends to sell the electricity to industrial as well as commercial consumers and also at energy exchanges.
The sector regulator Central Electricity Regulatory Authority (CERC) has already approved the real time power market, which is expected to begin from 1 April 2020.
NTPC is planning to set up 20 MWp floating solar photovoltaic-based power unit at the reservoir of NTPC Auraiya Gas Power Plant, Dibiyapur in Auraiya district of Uttar Pradesh.
The project will entail an investment of Rs 160 crore. In December 2018, bids were invited for design, engineering, manufacturing, supply, packing and forwarding, transportation, unloading, storage, installation and commissioning of the project.