NTPC to set up 3,000 MW solar power projects in FY16

Leading thermal power producer NTPC plans to set up 3,000 mw capacity solar power projects across the country in this financial year.
"In February NTPC board had approved a commitment to the government for developing 10,000 mw of solar power capacity in the next five years. We are planning to install 3000 mw of solar PV capacity during the financial year as compared to the existing installed capacity of 110 mw under solar sector," NTPC Director (Commercial) I J Kapoor told reporters here today.
NTPC and the Andhra Pradesh power utilities today signed a power purchase agreement (PPA) for procurement of power to be generated from the 250-mw solar power plant being set up in the state, the official said.

The agreement is for the first phase of the 1,000 mw ultra solar power project being set up by NTPC in Anantapur district.
The tariff on levellised basis for energy supplied from this solar plant has been fixed at Rs 6.16 per unit for a period 25 years.
The power generation cost may further come down with regard to the remaining 750 mw capacity as that portion of the project would be undertaken through global bidding process unlike in the first phase where only the domestic vendors were involved, Kapoor said.
NTPC is committed to set up 10,000 mw of solar power capacity. By 2032, NTPC plans to be a 1,28,000 mw company and is targetting to have 28 per cent of its installed capacity from non-fossil sources, he added.