NTPC arm to float global tender to set up Rs 15k-cr 3 GW RE project by Feb – Business Standard

Topics
NTPC | renewable energy | Renewable energy policy
Press Trust of India  |  New Delhi 
https://mybs.in/2Zjsbtu

State-owned power giant arm Ltd (NREL) will float a global engineering procurement and construction tender to set up a 3GW project with a battery storage system worth around Rs 15,000 crore by February 2022, according to a senior official.
"The NREL has decided to float a global tender or RFP (request for proposal) for a 3GW project (like solar and wind) with battery energy storage system in the next two months (by February 2022). This entails an investment of about Rs 15,000 crore," the senior official told PTI.


A request for proposal (RFP) is a business document that announces a project, describes, and solicits bids from qualified contractors to complete it.
The development assumes significance given India's ambitious target of having 175GW of renewable energy by 2022, including 100GW of solar and 60 GW of wind energy.
According to a Central Electricity Authority (CEA) report, as of November 30, 2022, India's renewable energy capacity -- excluding large hydro plants -- is 104GW, including 49GW solar and 40GW of wind energy.
NREL, a 100 per cent subsidiary of Ltd, currently has a renewable project portfolio of 3,850 GW, of which, 970 MW projects are under construction and 2,880 MW projects have been won and are in different phases of implementation.
NREL is set to realise its target of having 60GW renewable energy (RE). The RE capacity of the NTPC is envisaged to be 45 per cent of its total 130 GW installed generation capacity by 2032.
The plan to have 60 GW RE capacity by 2032 would entail an investment of Rs 2.5 lakh crore.
NTPC had incorporated NREL with the Registrar of Companies, NCT of Delhi & Haryana, on October 7, 2020, to undertake renewable energy business.
It has also planned to bring strategic investors for NREL to bring its share of equity below 50 per cent before its listing on bourses in October 2022.
The present installed capacity of NTPC Group is 67,907.5 MW (including 13,675 MW through JVs/Subsidiaries), comprising of 48 NTPC stations (23 coal-based, 7 gas-based, 1 hydro station, 1 small hydro, 15 solar PV and 1 wind-based) and 26 joint venture stations (9 coal-based, 4 gas-based, 8 hydro, 1 small hydro, 2 wind and 2 solar PV).
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor
PREVIOUS STORY
NEXT STORY
Copyrights © 2021 Business Standard Private Ltd. All rights reserved.
Business Standard
Upgrade To Premium Services
Business Standard is happy to inform you of the launch of "Business Standard Premium Services"
As a premium subscriber you get an across device unfettered access to a range of services which include:
Business Standard
Premium Services
In Partnership with Fis Logo
Dear Guest,
Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard

source

Posted by