NTPC Renewable Energy Limited (NTPC REL) has received the letter of award for 550 MW solar project at a tariff of Rs 2.56 per kWh, won in REC Power Development and Consultancy Limited (RECPDCL)’s 1,250 MW inter-state transmission system-connected solar tender.
This power will be utilised under the central government’s August 2022 scheme for flexibility in generation and scheduling of thermal power stations through bundling with renewable energy capacity. The project is to be executed within a period of 18 months and will require capital investment of Rs 28 billion. With allotment of this 550 MW capacity, NTPC REL will have to execute more than 2 GW of renewable energy capacity to fulfill the capacity won in tariff based competitive bidding mode in first quarter of 2023 alone.