NREL To Float Global Tender To Set Up Rs 15,000-Crore Project By February
NTPC’s share price soared over three per cent on Thursday, December 30, when the state-owned power major announced that its renewable energy arm – NTPC Renewable Energy Ltd (NREL) – would float a global engineering procurement and construction tender.
According to news agency PTI, the global tender is for setting up a 3GW renewable energy project with battery storage system worth around Rs 15,000 crore by February 2022.
NTPC shares opened at Rs 123.40 during the entire trading session on Thursday, recording an intraday high of Rs 127.85 and an intraday low of Rs 122.35.
“NREL has decided to issue a global tender or RFP (Request for Proposal) for a 3GW renewable energy project (like solar and wind) with battery energy storage system in the next two months (by February 2022). Invest in it About Rs 15,000 crore is required,” a senior official told PTI.
This development assumes significance in view of India’s target of 175GW of renewable energy by 2022, which includes 100GW of solar and 60GW of wind power. According to a report by the Central Electricity Authority (CEA), as of November 30, 2022, India’s renewable energy capacity – excluding large hydro plants – is 104GW including 49GW of solar and 40GW of wind power.
NREL – a 100% subsidiary of NTPC, currently has a renewable project portfolio of 3,850 GW, out of which 970 MW projects are under construction and 2,880 MW projects have been won and are in various stages of implementation.
NREL is poised to achieve its target of having 60GW of renewable energy. NTPC’s renewable energy capacity is envisaged to be 45 per cent of its total installed generation capacity of 130 GW by 2032. The plan to have 60 GW of RE capacity by 2032 will entail an investment of Rs 2.5 lakh crore.
On Thursday, NTPC closed the biggest gainer on the NSE, with its shares closing at Rs 126.45, up 2.68 per cent.