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NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Ltd has entered into a power purchase agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) — a State distribution utility to sell power from its 150-MW solar project.
The project to be installed in Gujarat, will sell power at a tariff of ₹2.20 per kWh to the Gujarat government’s distribution utility.
With this successful bid, the company’s total capacity under Tariff-based competitive bidding has reached 1.4 GW, NTPC informed in a statement on Thursday.
The company has also been allocated land in Rann of Kutch by for developing a solar park with a capacity of 4,750 MW.
The subsidiary floated to develop renewable energy projects is building 6 GW solar capacity.
NTPC Renewable Energy will receive₹2,100 crore of long-term loans from banks for its under-construction projects.
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