NTPC Renewable Energy Wins 500 MW Solar Power Contract In SECI Auction

New Delhi, Dec 11, 2024: NTPC Renewable Energy Limited, a wholly-owned subsidiary of NTPC Green Energy Limited (NGEL), has emerged as a successful bidder in the e-reverse auction conducted by the Solar Energy Corporation of India (SECI) for the development of 2,000 MW ISTS-connected Solar PV Power Projects. 

The auction, held on December 9 also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1000 MW/4000 MWh. NTPC REL secured 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh. As per the terms of the tender, the company is required to set up an Energy Storage System (ESS) of 250 MW/1000 MWh along with the contracted solar capacity.

This win comes at a significant time for NTPC Green Energy, which recently made its debut on the stock exchanges, receiving a positive response from investors. As of November 30, 2024, NTPC Group's renewable energy portfolio stands at 4.1 GW of operational capacity, with nearly 21 GW in various stages of construction and tendering. The power giant has set a target to achieve 60 GW of renewable energy capacity by 2032.