NTPC to implant 10 GW solar power systems by 2022

NTPCNSE 0.04% is planning to make an investment of around Rs. 50,000 crores for implanting 10GW of the solar energy system by 2020, this to be financed mostly by green bonds.

At present, 920 MW of sustainable power energy has already been installed by NTPC that mainly incorporates solar energy systems for a power source. It has also formulated a long term plan of action to turn into a 130 GW organization by 2032 with a goal of 30% non-fossil fuel or sustainable power source limit.  

“The company will complete tendering of 2,300 MW of solar energy capacity by the end of this fiscal. Thereafter it has planned to add 4GW each in 2020-21 and 2021-22. The Company is open to any borrowing option in the market, which is economical. However, the company would mainly rely on green bonds that are offered for pure clean energy projects. The company wants to raise money through domestic as well as overseas green bonds,” the officials said.

The NTPC Project to include 10 GW solar power capacities will play a vital role in India’s ambitious target of getting 175GW of clean vitality by 2022. The officials also said that the organization would also set up a portion of its solar energy projects under a plan where it will be getting viability gap funding to keep the tariff below Rs. 3 per unit level.

Apart from this, the organization will also set up solar-powered vitality ventures with no long term (for 25 yrs) power purchase agreements (PPA) as it means to offer the power to industrial as well as commercial buyers and furthermore at vitality trades, the official included.

The area controller Central Electricity Regulatory Authority (CERC) has just affirmed the real-time power showcase, which is relied upon to kick in by April 1, 2020.

In the ongoing energy market, there would be 48 sessions of thirty minutes each in a day. This will enable customers to get the ideal power supply inside an hour of purchasing at the vitality trades.

At present, power is traded for two hours in a day from 10 AM to 12 AM; the place the customer can plan the delivery in a day advance.

The official also said the organization means to capitalize on the real-time power market, which is only three months away.