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NTPC Secures 25-Year Solar Power at Rs 2.60 per kWh in Rajasthan Insight

Last Update 22 August 2024

NTPC has signed a 25-year Power Purchase Agreement with Spain's Zelestra for Solar Power at Rs 2.60 per kWh. Zelestra will build a 450 MW solar plant in Rajasthan, the Anboto solar plant, generating 801 GWh annually. Zelestra India aims for 6 GW of renewable energy in three years and has already secured 1.5 GW of capacity this year.

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NTPC signed a PPA with Zelestra at Rs 2.60 per kWh for 25 years to ensure Renewable Power supply security for the long-term offering cost predictability. The project being developed in Rajasthan will help to integrate more renewable energy into the grid and meet its increasing power demand during peak hours through renewable energy and will also provide reasonable tariff rates to procure electricity. Due to the increase in competition in the market through reverse bidding, the tariff rates in India for solar projects are expected to decrease further in the upcoming years. Though this project aligns with India’s goal to increase RE capacity addition and increase investment by foreign investors and domestic IPPs, it is expected that the solar market will reach consolidation in the next 10- 15 years when sufficient RE demand has been met. This project will not only reduce carbon emissions but also create an opportunity for DISCOMS to purchase RE at lower tariff rates during peak demand. 

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