NTPC Secures 500 MW Solar Project in SECI Auction

11 Dec 2024 , 12:39 PM

On 10 December, NTPC Green Energy Ltd announced that it won a 500 MW solar power project through its subsidiary, NTPC Renewable Energy Ltd.

The deal was an auction by the Solar Energy Corporation of India (SECI) held on 9 December 2024. One of the projects in SECI’s plan for 2000 MW of solar energy projects connected to the power grid. The company will also construct an ESS of 250 MW/1000 MWh alongside the solar project.

In the National Stock Exchange, shares of NTPC is currently trading at ₹148 which is a 0.92% gain than the previous close. The shares has gained a total of 21% in the last one year.

NTPC Renewable Energy had bagged the project at a tariff of ₹3.52 per kWh. Official approval letter from SECI is awaited. NTPC Green Energy is India’s largest renewable energy public sector company if the hydro projects are not considered. It runs 3,220 MW of solar and 100 MW of wind power in six states till September 2024.

Long-term vision is offered because it aims to achieve 60 GW of renewable energy by 2032. It presently has 3.5 GW of installed capacity and more than 28 GW under development. Projects spread across locations for steady power generation and risk mitigation. Another milestone in the NTPC endeavor toward a clean and green energy future.