NTPC to invest Rs 3,000 cr in solar power

The state-run power major NTPC today said it will invest about Rs 3,000 crore in solar energy to add over 300 Mw of generation capacity by March 2014.

"The board of directors of NTPC has approved a roadmap to enter the solar power generation business for capacity addition of 301 Mw by March," the company informed the Bombay Stock Exchange (BSE).

An investment of Rs 10 crore is required to produce one Mw of solar power.

"Out of the 301 Mw, 190 Mw will be added through solar thermal technology and the balance 111 Mw through solar PV technology, the announcement said.

The company has already taken up 15 Mw of solar thermal based project at Anta in Rajasthan. The power generated from this station will be fed into the grid.

The largest power producer plans to add 50,000 Mw of electricity by 2012 from all energy sources.

Meanwhile, the board has also approved to invest Rs 564.53 crore for renovation and modernisation of its Badarpur plant in Delhi.