NTPC to build 5GW solar park in Gujarat

Leading electricity generator NTPC Ltd, which is shifting toward cleaner energy, is planning to set up a 5 gigawatt solar park in Gujarat, which would be the biggest in the country.

A company official was quoted as saying by Bloomberg: “A site has been identified for the project, which is expected to cost as much as Rs 25,000 crore ($3.5 billion and begin operations by 2024.”

The Bloomberg report said the company may also invite bids from developers to set up projects in the park. “The plan is part of the NTPC’s aim to build 32 gigawatts of renewable capacity by 2032 and reduce the share of fossil fuels in its energy mix to 70 per cent from about 96 per cent now.”

It added: “Government regulations to cap emissions from coal-fired power plants, which increase the costs of building such projects, have also prompted NTPC to turn to green energy for growth.”

Image Credit : bsmedia.business-standard.com

Tags:
Download Now – Special Research Report

A 110 page special research report that highlights around 580 key investments happened in the year 2018-19.

Daily Newsletter

Enter your email address:

Delivered by FeedBurner

Archives