Tata Power to Build 50-Megawatt Solar Plant for NTPC
Stock Chart for NTPC Ltd (NTPC)
Tata Power Solar Systems Ltd., a unit of India’s biggest industrial group, won a contract to build a solar plant for electricity producer NTPC Ltd. (NTPC) as utilities and manufacturers boost clean-energy investments to meet targets.
Tata will supply solar panels for the 50-megawatt project and construct the plant at Rajgarh in central Madhya Pradesh state by March, it said today in an e-mailed statement.
India, beset by blackouts as coal-power stations are idled for lack of fuel, plans to install 20,000 megawatts of solar by 2022, up from 1,700 megawatts. The new project may help NTPC meet targets since utilities and industrial energy users are required to get a portion of their electricity from renewables.
NTPC will double its solar capacity with the project. The state-controlled utility, which with 41,000 megawatts of total capacity is India’s largest power generator, plans to develop 1,000 megawatts of renewables by 2017, the statement shows.
Tata Power Solar, formerly known as Tata BP Solar Ltd., makes panels in Bangalore and has built more than 70 megawatts of photovoltaic projects as a contractor, according to the statement.
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