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.