Indo-Asian News Service, New Delhi, Feb 17: State-run power generator NTPC will invest Rs.60,000crore ($10 billion) for setting up renewable energy projects in the next five years, the company announced Tuesday.
NTPC, in a statement here said, it will add 10,000MW to its existing capacity of 43,143MW through solar projects in the next five years.
The company has renewable power capacity of 110MW, which has generated 100 million units of electricity in the current fiscal.
NTPC said it will set up renewable power projects of 10,000MW capacity in the country over the next five years. An overall investment of around Rs.60,000 crore is envisaged for the project. As per estimates building one megawatt of solar capacity requires Rs 6 crore.
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 said it has already floated the notice inviting tender for four solar projects of 250MW each in Andhra Pradesh, Madhya Pradesh, Telangana and Rajasthan and one 500MW project in Andhra Pradesh.
The first 250MW Solar project in Anantapur in Andhra Pradesh is expected to be awarded by the end of next month.
“Availability of land and PPA (power purchase agreement) arrangements are being explored in other states like Chhattisgarh, Uttar Pradesh, Puducherry, Gujarat etc.,” the statement added.
Over 250 other companies have committed to generate over 200,000MW from renewable sources at the ongoing three-day ‘First Renewable Energy Global Investors Meet and Expo (Re-Invest)’ here.
Among others are Welspun Energy with a target to generate 11,000MW renewable energy, followed by ReNew Power 11,500MW capacity, Reliance Power 6,000 MW, Hindustan Powerprojects10,000 MW and Sun Edison 15,000MW.
Yet others like Suzlon and Gamesa have respectively committed to manufacture equipment to help generate 11,000MW and 7,500MW of power from renewables.
