India’s largest power generation company is planning to significantly boost its solar power footprint.
According to media reports, NTPC Limited plans to auction an additional 5 GW solar power capacity over the next three years. The company has been the leading entity in auctioning and allocation of solar power projects ever since the Indian government increased solar power target from 22 GW to 100 GW by March 2022.
NTPC has auctioned projects to developers to set up its own capacity as well as on behalf of the central and state governments.
The company plans to boost its power generation portfolio by revisiting its renewable energy business plan. As per the initial plan the company pledged to add 1 GW of wind projects and 10 GW of solar projects to its current renewable energy portfolio.
The company recently revealed plans to of a new long-term policy that will see a significantly increased share of renewable energy in the generation mix. The new plan will be in line with the country’s aim of generating 175 GW renewable energy by 2022. The company envisaged 128 GW of power generation by 2032 out of which 28% is expected to come from renewable energy. The company’s current power generation capacity stands at 47 GW of which renewable energy constitutes 11%.
NTPC currently has 24 GW of projects under various stages of development. Recently, NTPC has invited bids for 625 MW of solar PV at the Ananthapuramu Ultra Mega Solar Park in the state of Andhra Pradesh. The solar power park will eventually have an installed base of 1.5 GW and 200 MW is already operational.
NTPC Limited has been chosen to set up a number of solar power parks. The company has a pipeline of 3.5 GW of solar power capacity. It will set up UMPPs in Telangana, Uttar Pradesh, Odisha and Madhya Pradesh.