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NTPC to invest $3.5 billion to set up solar park in India

  • 10 months ago (2019-09-19)
  • David Flin
Asia 572 Solar 113

NTPC , India’s largest power company, has announced that it will not undertake any new coal-based generation for the next few years as part of measures to reduce its carbon footprint, and it will invest $3.5 billion to set up one of the world’s largest solar power parks at Kutch in Gujarat. The solar park will be developed in phases over the next five years.

NTPC also said that it expects to disconnect some of its coal-based capacity from morning till evening to make wat for affordable solar and wind power generation. It also plans to set up 1000 MW solar power plants which sell electricity in the open market. An official said: “We will not set up coal-based power plants for the time being. We are setting up solar plants at Bilhor in Uttar Pradesh and Barethi in Madhya Pradesh where coal-fired plants were originally planned.” He said that the Government regulations to cap emissions from coal-fired power plants, which increases the cost of such projects, have helped prompt the company to this position.

NTPC has said that it is open to awarding contracts to private companies or on a turnkey basis to set up the projects. It will procure the electricity generated from these projects, bundle it with its production, and sell it to the distribution companies and avoid state government interventions.