NTPC Plans US$7Billion Investment In Solar Energy

In Clean Fund, Clean Talk, News, Renewable Energy, Solar, Sustainability
NTPC

State-owned power giant NTPC is planning to add 10GW of solar energy generation capacity by 2022, which entails an investment of around Rs 50,000 crore, to be funded mainly by green bonds.

At present, NTPC has installed renewable energy capacity of 920 MW, which includes mainly solar energy. It has formulated a long term plan to become a 130 GW company by 2032 with 30 per cent non-fossil fuel or renewable energy capacity.

The company will complete tendering of 2,300 MW of solar energy capacity by the end of this fiscal. Thereafter it has planned to add 4GW each in 2020-21 and 2021-22.

The company is open to any borrowing option in the market, which is economical. However, the company would mainly rely on green bonds which are offered for pure clean energy projects. The company wants to raise money through domestic as well as overseas green bonds.

The NTPC’s plans to add 10GW solar energy capacity assumes significance in view of India’s ambitious target of having 175GW of clean energy by 2022.

They would also set up some of their solar energy projects under schemes where they get viability gap funding to keep the tariff below Rs 3 per unit level.

Besides, the company will also set up solar energy projects without any long term (for 25 years) power purchase agreements (PPA) as it intends to sell the electricity to industrial as well as commercial consumers and also at energy exchanges.

Reference- Economic Times, Financial Express, Business Standard

Join Our Newsletter!

Love Clean Future? We love to tell you about our new stuff. Subscribe to newsletter!

Mobile Sliding Menu