The state-run power giant NTPC has tendered for the acquisition of 1 GW of operating solar projects, which entails an investment of about Rs 5,000 crore.
In a tender or request for proposals (RFP) released on Friday, NTPC invited bids from developers or borrowers, approved financial intermediaries of power generation firms, independent power producers or developers to offer operational solar-based assets located in India.
The contract is scheduled to be approved by October of this year.
The document stated that, in line with its long-term corporate strategy, NTPC is taking various steps to make its energy portfolio greener by adding substantial renewable energy ( RE) capacity.
Through 2032, the organization expects to provide at least 32 GW of capacity from RE sources, accounting for almost 25% of its total power generation capacity.
The NTPC RE portfolio has on-going capacity addition projects with about 2,298 MW of projects under construction.
The company also aims to expand its renewable generation capacity by acquiring solar power assets located in India at a minimum capacity of 1 GW, as specified in the RFP.
The organization will immediately increase its power generation capacity through inorganic growth or by purchasing existing operating projects.
Putting up a solar plant can take up to two years to reach industry expectations.
The company has a capital investment plan of Rs 21,000 crore for the current fiscal year, and most of it will be spent on the installation of new power generation capacity, it said.
In order to obtain about 1 GW of operational solar power capacity, the company will have to shell out about Rs 5,000 crore as per the back of the envelope estimates.
NTPC, formerly known as the National Thermal Power Company, plans to become a 130 GW corporation with a diversified fuel mix by 2032.
With a total installed capacity of 62,910 MW, the NTPC Group has 70 coal-fired power stations, 7 combined-cycle gas / liquid fuel, 1 hydro, 13 renewables and 25 subsidiary and JV power stations.
