State-owned NTPC said its arm NTPC Renewable Energy has entered into a power purchase agreement with Gujarat Urja Vikas Nigam (GUVNL) to sell electricity from its 150 MW solar project. The project will sell power at a tariff of Rs 2.20 per kWh.
“NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Ltd, has signed a power purchase agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) to sell power from its 150 MW solar project,” the statement said.
With this successful bid, the company’s total capacity under TBCB (tariff-based competitive bidding) tenders has reached 1.4 GW. The company has also been allocated land in Rann of Kutch by the Gujarat government for developing a solar park with a capacity of 4,750 MW.