NTPC opens tender to acquire 1 GW of already-built solar projects

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India’s largest power producer, NTPC, has opened a tender to acquire 1 GW of solar generation capacity from already-built projects.

Project owners can bid to have their facilities acquired by the fossil fuel business with the tender document specifying: “The offered assets can be either a special-purpose vehicle wherein the applicant intends to offer their 100% equity for sale to NTPC, or it can be a standalone asset which the applicant intends to offer for possible acquisition by NTPC.”

Solar plants should have a minimum, single-site generation capacity of 50 MW (AC) and should have been operational for at least a year by the time bids are submitted to the tender. The solar electricity generated by the facilities should have a maximum tariff of Rs5/kWh.

The deadline for bids is on September 22.

NTPC aims to have renewables account for 32 GW of its generation portfolio – almost a quarter of its fleet – by 2032. The company has around 2,298 MW of renewables capacity under construction at present.

“The company is also contemplating to increase its renewable[s] generation capacity through the acquisition of [operational] solar-based power assets located in India for a minimum capacity of 1 GW,” stated the tender document.