NTPC sets out to acquire solar projects not running on Chinese equipment

Source :IANS
Last Updated: Fri, Jul 24th, 2020, 11:27:56hrs
NTPC

New Delhi: In a major acquisition spree, country's largest power producer NTPC has invited bids to buy operational solar power projects with unspecified capacity.

This is the first time that the state-owned power generator has evinced interest in acquiring operational solar projects. Earlier, the company had invited bids to procure solar power and set up projects.

The acquisition plan is part of NTPC goal to add 10GW of solar generation capacity by 2022, with an investment of around Rs 50,000 crore.

To support government's Atmanirbhar Bharat mission and development of domestic capacities, NTPC has decided to acquire only such plants that are being operated using local equipment and not largely based on imported solar cells and modules.

The last date for the submission of techno commercial bids is September 22 and the financial bid or price bid opening would be intimated later after opening the techno commercial bids.

To get wider participation, NTPC has invited selling bids from promoters, lenders, financial intermediaries power generation companies and independent power producers.

The NTPC's acquisition plan is expected to be lapped up by several solar power generators looking to exit the sector after facing regulatory hurdles and difficulties in pricing power on renewed terms that some states are now pushing.