NEW DELHI: State-owned power giant NTPC is planning to add 10GW of solar energy generation capacity by 2022, which entails an investment of around Rs 50,000 crore, to be funded mainly by green bonds.
Sources say the power generator wants to focus on having a larger renewable energy portfolio and eyes a clean energy generation capacity as large as its thermal portfolio sometime in the future.Currently, NTPC has 920 MW of commissioned renewable energy projects comprising 11 solar photovoltaic projects with a capacity of 870 MW and one wind energy project of 50 MW. It has formulated a long term plan to become a 130 GW company by 2032 with 30 per cent non-fossil fuel or renewable energy capacity. Total installed power generation capacity of the group stands at 57,356 MW.
“The company will complete tendering of 2,300 MW of solar energy capacity by the end of this fiscal. For this, it is open to any borrowing option in the market, which is economical. However, NTPC would mainly rely on green bonds which are offered for pure clean energy projects. The company wants to raise money through domestic as well as overseas green bonds," said officials in the know. The company would also set up some of its solar energy projects under scheme where it gets viability gap funding to keep the tariff below Rs 3 per unit level.
Regulator Central Electricity Regulatory Authority has already approved the real time power market, which is expected to kick in by April next year.