NTPC Renewable Energy Ltd gets LoA for 550 MW solar project

NTPC on Monday said wholly-owned NTPC REL has received a letter of award (LoA) for a 550 megawatt (MW) solar project.

The project is to be executed within a period of 18 months and will require a capital investment of Rs 2,800 crore, NTPC said in a statement.

“NTPC Renewable Energy Limited (NTPC REL) received the Letter of Award for 550 MW Solar Project at a tariff of Rs 2.56/kWh. The power will be utilised under a Government of India’s scheme for flexibility in generation and scheduling of thermal power stations through bundling with RE capacity,” the statement added.

The statement did not provide further details of the project.

With the allotment of this 550 MW capacity, NTPC REL will have to execute more than 2 GW RE capacity to fulfil the capacity won in TBCB (tariff-based competitive bidding) mode in first quarter of 2023 alone.

As of date, NTPC Group has a 3.3 GW renewable energy (RE) operational capacity.