NTPC Renewable Energy Limited (NTPC REL), a wholly-owned subsidiary of NTPC Ltd, India’s largest integrated energy company, has signed a power purchase agreement (PPA) 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 Limited (RUMSL) at Shajapur Solar Park in Madhya Pradesh.
The pact was signed in the august presence of Shivraj Singh Chauhan, Chief Minister of Madhya Pradesh and R K Singh, Union Minister of Power, on Thursday (25 November).
NTPC REL has won a capacity of 105 MW quoting Rs 2.35/kWh, and 220 MW quoting Rs 2.33/kWh in the Rewa Ultra Mega Solar Limited’s auction held on 19 July for 450 MW of solar projects at Shajapur Solar Park in Madhya Pradesh.
According to the official statement, NTPC has won more than 6 GW of RE capacity through competitive biddings.
In September, NTPC REL signed its first Green Term Loan agreement of Rs 500 crores at a very competitive rate with a tenor of 15 years with Bank of India for its 470 MW solar projects in Rajasthan and 200 MW solar project in Gujarat.