The state-owned energy giant NTPC announced that its subsidiary, NTPC Renewable Energy Ltd (NTPCREL), has won a 500 MW renewable energy
round-the-clock (RE-RTC) project. The Ministry of Railways and RITES Ltd.'s joint venture (JV) business, REMCL, granted the contract for the work, according to a statement from NTPC. A letter of acceptance for 500 MW of RE-RTC power from REMCL was received by NTPC REL, a wholly-owned subsidiary of NGEL, which is a subsidiary of NTPC Limited, according to the statement. NTPC, a 25-year power purchase agreement (PPA) would be struck with Indian Railways.
The capacity was chosen after a competitive bidding process out of a total of 900 MW RE-RTC on offer. The project would provide REMCL with continuous green energy using a solar and wind energy mix. The largest electricity-generating firm in the nation is NTPC, which is under the Ministry of Power.
