NTPC Arm NREL to Propose Global Tender for its Renewable Energy Project Worth Rs 15,000 Crore by February 2022 – EQ Mag Pro
According to a statement given by a senior official, the power generation giant, National Thermal Power Corporation (NTPC) Limited part of NTPC Renewable Energy Ltd (NREL) will initiate a construction tender and a global engineering procurement so as to commence a 3GW renewable energy project coupled with an impressive batter storage system by February 2022.
The immaculate renewable energy project is worth Rs 15,000 crore.
“The NREL has decided to float a global tender or RFP (request for proposal) for a 3GW renewable energy project (like solar and wind) with battery energy storage system in the next two months (by February 2022). This entails an investment of about Rs 15,000 crore,” an official mentioned PTI.
RFP is a business document that proclaims a project, briefs about it, and beseech bids from certified contractors to finish it.
The impeccable development presumes importance given to India’s objective of attaining 175GW of renewable energy by, along with 60 GW of wind energy and 100 GW of solar energy. According to the report provided by the CEA (Central Electricity Authority) report, renewable energy capacity of India, as of 30th November, 2021, stood at 104GW, along with 40 GW of wind energy and 49GW of solar energy.
NREL (The National Renewable Energy Laboratory) is revolutionizing energy with the help of commercialization, research, development and deployment of renewable energy and exemplary and advanced energy efficient technologies. NTPC encompassed NREL with National Capital Territory (NTC) of Delhi and Haryana and the Registrar of Companies on 7th of October, 2020, in order to handle the renewable energy business.
NREL, which is completely a 100 per cent subsidiary of wholly owned company NTPC Ltd., at present, has a renewable energy portfolio of 3,850 GW, of which 2,880 GW projects has been secured and has reached numerous stages of implementation, and 970 GW project are still undergoing on construction.
Shares of NTPC surged more than 3% soon after they announced that NREL will float a construction tender and a global engineering procurement.
Source : PTI
