NTPC to invest $10 bn for building renewable projects over next 5 years
Country's largest power producer NTPC will invest close to $10 billion for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation.
New Delhi: Country's largest power producer NTPC will invest close to $10 billion for executing green energy projects in the next five years as part of government's plans to provide thrust to clean electricity generation.
The public sector company has committed to set up renewable power projects of 10,000 MW capacity in the country over the next five years.
Nearly an investment of Rs 60,000 crore (approximately $10 billion) will be required to build 10,000 MW capacity. As per estimates building one megawatt of solar capacity requires Rs 6 crore.
The company in a statement said that it will add 10,000 MW to its existing capacity of 43,143 MW through solar projects in the next five years.
Currently, the company has 110 MW of renewable power projects which generated 100 million units of electricity during the current fiscal, so far.
Recently, NTPC signed a term loan agreement of Rs 10,000 crore and Rs 2,000 crore with state-run SBI and Bank of Baroda, respectively, for partially funding its capital expenditure.
The company further said it has already floated Notice Inviting Tender for four solar projects of 250 MW each in Andhra Pradesh, Madhya Pradesh, Telangana and Rajasthan and one 500 MW project in Andhra Pradesh.
The first 250 MW Solar project in Anantapur in Andhra Pradesh is expected to be awarded by the end of next month, the statement said.
It added, "Availability of land and PPA arrangement are being explored in other states like Chhattisgarh, Uttar Pradesh, Puducherry, Gujarat etc."
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