NTPC Arm Emerges Winner At Auction For 450 MW Solar Projects At Madhya Pradesh's Shajapur

State-owned energy major NTPC's wholly-owned subsidiary NTPC Renewable Energy has emerged as the winner at the Rewa Ultra Mega Solar Limited's auction for setting up 450 megawatts (MWs) capacity at the Shajapur Solar Park in Madhya Pradesh, reports Economic Times.

Out of the 450 MW capacity, NTPC Renewable Energy has won capacities of 105 MW and 220 MW by quoting the lowest tariffs of Rs 2.35 per kWh and Rs 2.33 per kWh respectively. It should also be noted that the auction witnessed an overwhelming response with a total of 15 bidders being shortlisted.

Traditionally focused on building thermal power projects, NTPC has been pivoting towards renewable energy generation in a big way. It is aiming to build 60 GWs of renewable energy capacity by 2032. Presently, the power major has an installed capacity of 66 GWs across 70 power projects with an additional 18 GWs of projects under construction.

The development also gains significance as it takes India closer to achieving the ambition of setting up a renewable energy generation capacity of 175 gigawatts (GWs) by 2022 when India will complete 75 years of Independence from the usurious British Raj.