NTPC Renewable Energy bags 500-MW solar project in SECI auction

NTPC Renewable Energy has bagged a 500 MW solar project from Solar Energy Corporation Of India (SECI), an official statement said on Tuesday. The auction, held on December 9, 2024, also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1,000 MW/4,000 MWh, the statement said.

"NTPC REL secured 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh. As per the terms of the tender, the company is required to set up an Energy Storage System of 250 MW/1,000 MWh along with the contracted solar capacity," it said.

As of November 30, 2024, NTPC Group's renewable energy portfolio stood at 4.1 GW of operational capacity, with nearly 21 GW in various stages of construction and tendering.

The power giant has set a target to achieve 60 GW of renewable energy capacity by 2032.

NTPC Renewable Energy is an arm of state-owned NTPC while SECI is one of the nodal agencies to implement RE projects in India.