NTPC secures 550 MW solar project at record-low tariff

NTPC REL’s win in the RECPDCL tender accelerates progress towards 60 GW Renewable Energy Capacity by 2032 and leadership in green hydrogen and energy storage.

NTPC Renewable Energy Limited (NTPC REL) has recently been granted the Letter of Award for a 550 MW Solar Project at an unprecedented tariff of ₹2.56/kWh. This remarkable achievement was secured in the RECPDCL’s 1250 MW ISTS-Connected solar tender, which was published in December 2022. The power generated from this project will be utilized under the Government of India’s August 2022 scheme, allowing flexibility in the generation and scheduling of Thermal Power stations through bundling with Renewable Energy capacity. The project is set to be executed within the next 18 months and will necessitate a capital investment of ₹2800 Cr.

This milestone marks a significant leap for NTPC REL, as it now needs to implement over 2 GW of Renewable Energy capacities to meet the capacity it won in the TBCB mode in the first quarter of 2023 alone.

As of today, the NTPC Group already boasts an operational capacity of 3.3 GW in Renewable Energy, with an additional 6 GW in various stages of implementation, and a further 12 GW under tendering, including an impressive 4 GW Energy Storage System, along with a major hydrogen-based energy storage cum microgrid system.

NTPC is unwavering in its commitment to achieving 60 GW of Renewable Energy Capacity by the year 2032, positioning itself as a leading player in Green hydrogen technology and the Energy storage domain. With this latest achievement, the organization is steadily advancing towards its ambitious renewable goals and cementing its position in the sustainable energy landscape.