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NTPC add 10GW solar energy capacity by 2022 with Rs 50,000 crore investment

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On December 26, 2019 the NTPC ltd (formerly known as National Thermal Power Corporation Limited) is in the plan of adding 10GW (GigaWatt) energy generation capacity by 2022, with an additional investment of around Rs 50,000 crores. The investment will mainly be funded by green bonds. This move will support India’s ambitious target of generating 175GW by 2022.NTPC current plans and targets:

i.Currently NTPC has installed renewable energy capacity of 920 MW that comprises mainly of solar energy. It has also planned to generate 130GW in the country by 2032 with 30% non fossil fuel or renewable energy capacity.

ii.In the current fiscal(jan to march 2020), the company  would complete generating 2300MW(MegaWatt) and then add 4GW each in 2020-21 and 2021-22.

iii.NTPC would set up solar energy projects in schemes having viability gap funding(VGF) to keep tariff below Rs  3 per unit level. It will also set up olar energy projects without any long-term (for 25 years) power purchase agreements (PPA)

iv.Power Trading:

  • The power sector regulator Central Electricity Regulatory Authority (CERC) has already approved the real-time power market, which is expected function by 1 April 2020.
  • In the real-time power market,  48 sessions of half an hour(30minutes) each in a day would be done. As a result consumers will get the desired power supply within 1 hour of buying at the energy exchanges.
  • Currently power is traded for two hours a day from 10AM (ante-meridiem)to 12AM. The consumer can also schedule the delivery in a day advance.

About NTPC ltd:
Founded- 1975
Headquarters- New Delhi.
Chairman & Managing Director(MD)- Gurdeep Singh.