India's NTPC launches tender for 1 GW solar capacity
This comes amidst NTPC’s plans to have a minimum 32 GW capacity by 2032.
State-run power company NTPC has floated a tender to acquire 1 GW worth of operational solar projects.
NTPC will purchase the power in a 25-year agreement at an initial tariff of INR1.91/kWh (US$2.5c/kWh) for the first year. The tariff will be subsequently increased at the rate of INR1c/year (US$0.01c/year) until the 25th year.
The power company has invited bids from local as well as international investors and developers to compete for 250 MW to 1 GW in 10 MW multiples.
The projects will be built on a build-own-operate-transfer (BOOT) basis anywhere in the country on the land identified and arranged by the developers. The deadline to submit bids is 27 May 2021.
The tender is expected to be finalized this October.