NTPC Will Invest Rs 50,000 Crore To Add 10GW of Solar Energy Capacity By 2022: Report
- The funding will be mainly done by green bonds
- NTPC has planned to add 4GW each in 2020-21 and 2021-22
According to a report by the Economic Times, a source has said that state-owned NTPC is planning to add 10GW of solar energy generation capacity by 2022. This will require an investment of about Rs 50,000 crore. It will mainly be funded by green bonds.
As per the report, at present, NTPC has installed renewable energy capacity of 920 MW. This includes mainly solar energy. NTPC has also come out with a long term plan to become a 130 GW company by 2032 with 30 per cent non-fossil fuel or renewable energy capacity said the report.
Domestic and overseas green bonds
The report said that the source added that the company will complete tendering of 2,300 MW of solar energy capacity by the end of this fiscal. After that, it has planned to add 4GW each in 2020-21 and 2021-22. The source further said that the company is open to any borrowing option in the market, which is economical. But the company will mainly rely on green bonds. NTPC wants to raise money through domestic and overseas green bonds.
The source also mentioned that the company would like to set up some of its solar energy projects under scheme where it gets viability gap funding. This funding is given to keep the tariff below Rs 3 per unit level.