The national PSU, NTPC Ltd. is planning to build an ultra mega solar park in Bhuj district of Gujarat with a capacity of 5,000 MW and an investment of Rs. 20,000 crore. A part of the capacity could be set up without a power purchase agreement said, the company Chairman Gurdeep Singh recently.
Interacting with the media, Singh said that the company officials are in the process of identifying the land parcels in Bhuj, which has a very high solar radiation. The plant will use only PV technology that too based on certain stringent specifications decided by the Ministry of New and Renewable Energy,
The company is also in the process of exploring the possibility of setting a similar capacity park in Rajasthan but that work is in a very nascent stage. The tariff for the Bhuj plant would be in the range of about Rs 2.60 to Rs. 2.70 per unit, he said.
The Chairman also pointed out that the company is also exploring the possibility of selling some capacity of the mega solar plant on a merchant basis, which will give better returns to the company. It is possible that 90 per cent of the plant’s power would be sold through a power purchase agreement and rest on a merchant basis.
He said that a solar park requires a good site with plenty of solar radiation, access to capital and connectivity to the grid. As there is a downward trend in the global money market, therefore, raising that kind of capital is not a problem for the solar park projects.
NTPC is committed to renewable energy and by 2030 at least 30,000 MW of renewable energy would be produced by the company. Solar power has become more and more competitive, which will bring stability in the prices and bring in the new investment cycle, Singh said.
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