Latest News | NTPC Arm Gets Letter of Award for 550 MW Solar Project

New Delhi, Jul 31 (PTI) 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.

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"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," it added.

The statement did not provide further details of the project.

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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 Q1 2023 alone.

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)