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NREL To Uncover 3GW RE Project Tender Worth Rs 15K Cr By Feb ‘22

Russia's Rosatom keen on opportunities in renewables, energy storage and other areas in India

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According to a senior source, the state-owned power firm NTPC’s wholly-owned subsidiary, NTPC Renewable Energy Ltd (NREL) would launch a global engineering procurement and construction tender to put up a 3GW renewable energy (RE) project with a battery storage system in the coming next two months (February 2022). The project cost is estimated to be around Rs 15,000 crores.

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The achievement is significant in light of India’s ambitious objective of achieving 175GW of renewable energy by 2022, 100GW of which would be from solar energy and 60GW of wind energy.

As per Central Electricity Authority’s (CEA) estimate, India’s renewable energy capacity will be 104GW, which excludes major hydro plants, as of November 30, 2022, with 49GW of solar and 40GW of wind energy.

NREL, presently has a renewable project portfolio of 3,850 MW, of which 970 MW are under construction and 2,880 MW have been awarded and are in various stages of implementation.

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NTPC’s subsidiary is on track to meet its aim of 60 GW of RE by 2032 which will necessitate an expenditure of Rs 2.5 lakh crore.

On October 7, 2020, NTPC to conduct its RE business, registered NREL with the Registrar of Companies, NCT of Delhi & Haryana.

NTPC also intends to bring in strategic investors to reduce NREL’s equity stake to less than 50% before listing on the stock market in October 2022.

The NTPC Group now has a total installed capacity of 67,907.5 MW, including 13,675 MW through JVs/Subsidiaries. NTPC has solely owned 48 stations out of which 15 are solar PV, 2 are hydro plants and 1 is wind-based, and 26 joint venture stations, which comprises 8 hydro, 2 solar and 2 wind plants.

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