NTPC arm to acquire 620 MW from 37 solar power providers

 | December 21,2010 11:39 am IST

State-run National Thermal Power Corporation (NTPC) Monday said its fully owned subsidiary NTPC Vidyut Vyapar Nigam Limited (NVVN) has approved the proposal for entering into power purchase agreements (PPAs) with 37 solar power developers (SPD).


"The board in its meeting held on Dec 17, 2010, approved the proposal for entering into PPAs with 37 SPDs for a cumulative capacity of 620 MW," said the company in a statement.


According to the power major, 30 SPDs were cleared for 150 MW PPAs, while seven got cleared for 470 MW PPAs under phase I of the Jawaharlal Nehru National Solar Mission (JNNSM).


"NVVN envisages purchase of solar power from SPDs and bundling the same with equivalent capacity of unallocated power from NTPC coal stations to be allocated by the ministry of power (MoP) for sale to state utilities," the statement further said.


The statement added that PPAs are expected to be signed before the first anniversary of the launch of the JNNSM.

Earlier, NTPC was appointed the nodal agency for phase I of JNNSM by the ministry of power. The scheme was launched by the prime minister Jan 11, 2010, with a target for putting into operation 1,000 MW of grid connected solar power projects by 2013.