NTPC, AP sign initial pact for 1,000 MW solar power projects

State-owned NTPC has signed an initial agreement with Andhra Pradesh government for developing 1,000 MW solar power projects in Andhra Pradesh.
"As per the Memorandum of Understanding (MoU), NTPC shall develop 1,000 MW solar power projects at sites identified by the state government on Build-Own-Operate (BOO) basis, in a phased manner," NTPC said in a statement.
However, the company did not elaborate the financial details of the project.
On an average Rs 7 crore per megawatt is incurred in setting up a solar power plant.
The documents for transfer of land for 4,000 MW Pudipadaka thermal power project were also handed over to NTPC.

NTPC operates 2,000 MW Simhadri thermal power station in the state.
Present installed capacity of NTPC is 43,128 MW (including 5,974 MW through joint ventures) comprising 38 NTPC stations (17 coal based stations, 7 gas-based stations), 7 joint venture stations (6 coal based and one gas based) and 7 renewable energy projects.
Meanwhile, the Andhra Pradesh state government has lined up three major projects to produce 2,500 MW of solar power in the Rayalaseema region of the state and NTPC's 1,000 MW capacity is a part of that plan.