Indian power producer NTPC plans to invest Rs60bn (approximately $10bn) over the next five years for 10,000MW of renewable power generation in the country.
Around 1MW of solar power generation in India requires an investment of Rs60m, The Economic Times reported.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
NTPC, a central public sector undertaking under the Indian Ministry of Power, has a generation capacity of 43,143MW.
Its renewable capacity is 110MW, which has generated 100 million units of power in the current fiscal year.
The fir has already initiated tenders for four 250MW solar projects, one each in the states of Andhra Pradesh, Madhya Pradesh, Telengana and Rajasthan, India.
Tender invitations have also been sent out for an additional 500MW solar project in Rajasthan.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe first of the four 250MW projects to be awarded is located in Anantapur, Andhra Pradesh, the NTPC announced in a statement.
The company is presently exploring land availability and PPA arrangement options in other Indian states, including Chhattisgarh, Uttar Pradesh, Puducherry and Gujarat.
Image: NTPC plans to invest $10bn for green energy projects in India. Photo: courtesy of franky242 / Freedigitalphotos.net.
