NTPC Renewable Energy, a wholly-owned subsidiary of Electricity Generator – National Thermal Power Corporation Limited (NTPC Ltd) signed a Power Purchase Agreement (PPA) with state-run power utility Gujarat Urja Vikas Nigam Limited (GUVNL).
- As per the agreement NTPC Renewable Energy will sell power from its upcoming 150 megawatt (MW) solar project in Gujarat to GUVNL at Rs 2.20/unit.
Key points about NTPC Renewable Energy:
i.It was established in October, 2020 with the purpose of developing Renewable Energy (RE) projects.
ii.After this agreement, the company’s total capacity under TBCB (tariff-based competitive bidding) tenders has reached 1.4 GW.
iii.Gujarat government has allocated land in Rann of Kutch, Gujarat for development of a solar park by NTPC Renewable Energy with a capacity of 4,750 MW.
iv.NTPC Renewable Energy plans to obtain a long – term loan of Rs 2,100 crore from banks for its under-construction projects.
Note – By 2032, NTPC Ltd plans to have a minimum of 32000 MW capacity through RE sources constituting nearly 25 percent of its overall power generation capacity.
Recent Related News:
On February 23, 2021 NTPC Ltd signed a share purchase agreement with GAIL (India) Ltd. As per the agreement NTPC will buy GAIL’s 25.51% in Ratnagiri Gas and Power Pvt Ltd (RGPPL), which is commonly known as Dabhol project. Apart from this, NTPC will sell its 14.82% stake in Konkan LNG Ltd (KLL) on a fully diluted basis to GAIL.
About National Thermal Power Corporation Limited (NTPC Ltd):
Establishment – 1975
Headquarter – NewDelhi
Chairman and Managing Director – Shri Gurdeep Singh
About Gujarat Urja Vikas Nigam Limited (GUVNL):
Headquarters – Vadodara, Gujarat
Managing Director – Shahmeena Husain