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

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

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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.