NTPC Wants To Acquire 1 GW Operational PV Projects

NTPC Looking To Expand Renewable Energy Generation Portfolio By Acquiring A Minimum Of 1 GW Operational Solar Power Capacity
04:02 AM (Beijing Time) - 26. July 2020
NTPC

The acquisition of a minimum of 1 GW of operational solar power assets is one way for India's utility NTPC to expand its renewable energy generation capacity for which it targets 32 GW by 2032. (Photo Credit: NTPC Ltd.)

Key Takeaways

  • NTPC has launched a RFP with an intent to acquire operational solar PV projects
  • All eligible projects with a combined minimum capacity of 1 GW need to be located in India and in operation for at least a year
  • Proposed projects must have a PPA for equal to or less than INR 5.00 per kWh
  • The RFP is open to promotors/lenders, authorized financial intermediaries of the power generation companies, independent power producers/developers to offer their operational solar power assets

India’s National Thermal Power Corporation Limited (NTPC) has solicited proposals from a number of stakeholders to acquire operational solar power assets with a combined ‘minimum’ capacity of 1 GW. The utility strives for renewable energy generation sources to account for some 25% of its overall power generation capacity by 2032, translating into a minimum of 32 GW (see NTPC Aims At 32 GW Renewables Capacity).

The request for proposal (RFP) invites response from promotors/lenders, authorized financial intermediaries of the power generation companies, independent power producers/developers to offer their India located operational solar based power assets for NTPC to take over.

The utility will be able to shortlist suitable assets for possible acquisition basis responses received to this RFP. It clarifies that offered assets can either be a special purpose vehicle (SPV) in which NTPC can acquire a 100% stake or can be standalone assets. It will be looking for a single location asset, operational for at least a year, to have a minimum of 50 MW AC capacity with power purchase agreements (PPA) for a tariff of equal to or less than INR 5.00 ($0.067) per kWh.

Last date to submit proposals under this RFP is September 22, 2020. Tender details are available on the NTPC Tender website.

The current installed power generation capacity of NTPC stands at 62.91 GW comprising 11 solar power plants with 870 MW capacity out of 928 MW renewable energy projects.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani