NEW DELHI -- State-run generation utility NTPC has signed an agreement with Madhya Pradesh Power Trading Company ( MP Tradeco) for supplying electricity from a 50 mw solar plant, the biggest such unit in the country under implementation.
NTPC proposes to build the solar power plant at Rajgarh and start feeding the grid by 2013. Power from the solar plant would be bundled with unallocated supplies from NTPC's upcoming coal-fired plants to make it affordable. NTPC has plans to achieve a capacity to generate 500 mw from renewable sources in the next five years. It has formed a joint venture with the Asian Development Bank (ADB) and Japan's Kyuden International Corporation (Kyushu) for this purpose.
NTPC announced the solar power deal on a day the government asked all Central public sector companies to set up renewable energy projects or voluntarily procure energy credits as part of efforts to boost sustainable development. The ministry of heavy industries and public enterprises has asked all such entities to set up renewable energy projects or voluntarily purchase renewable energy certificates (RECs), usually each of which is equal to one mw of power.
The NTPC board has also approved investment proposals worth Rs 18,346 crore for two power projects. The country's largest power producer would invest Rs 15,166.19 crore for the upcoming 2,400 mw Kudgi super thermal power project in Karnataka, which is awaiting clearance of ministry of environment and forests. NTPC currently operates 15 coal-fired and seven gas-based units on its own, besides six joint venture power stations. It plans to establish 128,000 mw of generation capacity by 2032.
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|Publication:||Pakistan & Gulf Economist|
|Date:||Jan 8, 2012|
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