NTPC Renewable Energy bags 1,000-MW solar power project

 NTPC Renewable Energy Ltd has secured a 1,000-MW solar power project from Uttar Pradesh Power Corporation Ltd (UPPCL).

NTPC REL secured a capacity of 1,000 MW at a tariff of Rs 2.56/kWh, a regulatory filing said on Saturday.

According to the filing, the letter of award from UPPCL is awaited.

NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Green Energy Ltd (NGEL), has emerged as a successful bidder in the e-reverse auction conducted by UPPCL, it stated.

The auction, aimed at "selection of solar power developers for setting up 2,000 MW ISTS-connected solar PV power projects in India under tariff-based competitive bidding" was carried out on January 3.

Previously, in a filing to the stock exchanges on December 27, the renewable energy arm of state-owned NTPC Ltd. said that it had commenced commercial operations for the first phase of the Gujarat Solar PV Project in Sadla. The company revealed that, based on certification from the Gujarat Energy Development Agency on December 26, the initial capacity of 37.5 MW out of the 200 MW project began operations.