View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 27, 2021updated 05 Nov 2021 1:13pm

NTPC secures 1.9GW solar power contract in IREDA auction

The power contract will help NTPC reach its 60GW renewable capacity target by 2032.

By Umesh Ellichipuram

Indian energy conglomerate NTPC has won a 1.9GW solar power project contract in an auction organised by Indian Renewable Energy Development Agency (IREDA).

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NTPC won the capacity under Phase II of the Central Public Sector Undertaking (CPSU) Scheme, the third tranche of a 5GW tender.

The CPSU Scheme Phase II aims to establish grid-connected solar photovoltaic power projects, with 12GW of combined capacity, by government producers through viability gap funding support.

NTPC is understood to have been the single largest capacity winner in the e-auction.

This contract brings the total amount of capacity won by the company through competitive biddings processes to more than 6.3GW.

It will also help the company to reach its goal of implementing 60GW of renewable energy capacity by 2032.

In addition, the scheme is expected to promote the Atmanirbhar Bharat (Self-Reliant India) scheme as the projects must use materials and components produced domestically.

Last May, NTPC signed a memorandum of understanding (MoU) with Oil and Natural Gas Corporation (ONGC), an Indian multinational crude oil and gas company, for the establishment of a joint venture company for the renewable energy business.

Under the MoU, the two companies agreed to form a joint venture company to expedite their footprint in the country’s renewable energy business.

In another development, Indian state-run hydroelectric power generation company Satluj Jal Vidyut Nigam (SJVN) has won a 1,000MW grid-connected solar project worth Rs55bn ($746m) in the auction organised by IREDA.

The project is expected to generate 2.4 billion units in its first year and was won by the company through an open competitive bidding process.

SJVN chairman Nand Lal Sharma said that the latest allotment brings the company’s total amount of solar capacity in development to 1,345MW.

Power generated by the project will be strictly for self-use or for use by government entities, either directly or through distribution companies.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU