NREL plans to invite global EPC bids for a 3GW renewable project

NTPC arm NREL to float global EPC tender for 3GW renewable project. NREL is on track to reach its goal of 60GW of renewable energy (RE) by 2032. 

According to media reports, NTPC Renewable Energy Ltd (NREL), an arm of state-owned power giant NTPC, is planning to float a global EPC tender for development of a 3GW renewable energy project with a battery storage system by February 2022. The total cost of these renewable projects is estimated to worth around INR 15 billion.

NREL is a 100 percent subsidiary of NTPC Ltd that was incorporated on October 7, 2020, in order to engage in renewable energy. It currently has a portfolio of 3,850 MW of renewable energy projects, 970 MW of which are under construction, and 2,880 MW of which were recently won and are being implemented at various stages.

NREL is on track to reach its goal of 60GW of renewable energy (RE) by 2032 that would require an investment of INR 2.5 lakh crore. 

By 2032, the NTPC expects its RE capacity to account for 45 per cent of its total 130 GW installed capacity. Additionally, the company plans to bring strategic investors to NREL for a move toward a lower equity share of less than 50% before the company is listed on bourses in October 2022. 

Presently, NTPC Group has 67,907.5 MW of installed capacity (including 13,675 MW from JVs/Subsidiaries). The total installed capacity includes 48 NTPC stations (23 coal, 7 gas, 1 hydro, 1 small hydro, 15 solar PV, and 1 wind) along with 26 joint venture stations (9 coal, 4 gas, 8 hydro, 1 small hydro, 2 wind, and 2 solar PV).

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