NTPC Renewable Energy, a wholly-owned subsidiary of NTPC Green Energy (NSE:NTPCGREEN, BOM:544289), has emerged as a successful bidder to develop 500 MW solar PV power projects in the e-reverse auction conducted by the Solar Energy Corporation of India, according to a Tuesday filing to the stock exchanges.
The e-reverse auction was conducted Solar Energy Corporation of India (SECI) for the development of 2000 MW ISTS-connected solar PV power projects including the establishment of energy storage systems (ESS) with a total capacity of 1,000 MW/ 4,000 MWh.
NTPC Renewable secured 500 MW of solar power capacity at a tariff of 3.52 Indian rupees per kWh. The company also needs to set up an energy storage system of 250 MW/1000 MWh along with the contracted solar capacity.
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