NTPC Renewable Energy inks power purchase agreement for 325 MW solar projects

State-run power giant NTPC on Friday said its arm NTPC Renewable Energy has inked power purchase agreement and other project agreements with Indian Railways, Madhya Pradesh Power Management Company and Rewa Ultra Mega Solar.

"NTPC Renewable Energy Ltd, a wholly-owned subsidiary of NTPC Ltd, India's largest integrated energy company has signed a PPA (power purchase agreement) and other project agreements with Indian Railways, Madhya Pradesh Power Management Company Limited (MPPMCL), and Rewa Ultra Mega Solar Limited (RUMSL) for 325 MW Solar Projects being installed in the Rewa Ultra Mega Solar Ltd (RUMSL) at Shajapur Solar Park in Madhya Pradesh," an NTPC statement said.

The pact was signed in the presence of Madhya Pradesh Chief Minister Shivraj Singh Chauhan and Union Power and New & Renewable Energy Minister R K Singh on 25th November 2021, it said.

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The NTPC Renewable Energy Ltd has won a capacity of 105 MW quoting Rs 2.35/kWh, and also a capacity of 220 MW quoting Rs 2.33/kWh in the Rewa Ultra Mega Solar Ltd's auction held on 19th July 2021 for 450 MW of Solar Projects at Shajapur Solar Park in Madhya Pradesh.

The NTPC has won more than six GW of RE capacity through competitive biddings. NTPC REL Ltd was floated with the purpose of developing renewable energy projects, it stated.