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					</table><p><a href="https://vslrenewableservices.com/" target="_blank" rel="noopener">VSL Renewable Services</a> has won the operation and maintenance (O&amp;M) contract for 810 MWp of NTPC Green Energy&#8217;s (<a href="https://www.ngel.in/ngel-home">NGEL</a>) 1,864 MW solar power projects in Andhra Pradesh, Madhya Pradesh, and Rajasthan.</p>
<p>The O&amp;M will be for a period of 36 months.</p>
<p>The tender was floated in January 2025.</p>
<p>VSL emerged as the lowest bidder for both Lot 1 (1,054 MWp) and Lot 2 (810 MWp). However, according to NTPC’s tender conditions, only Lot 2 was awarded to the company.</p>
<p>The project will leverage artificial intelligence and Internet of Things-based platforms for anomaly detection, performance optimization, and predictive diagnostics for the O&amp;M of these projects.</p>
<p>VSL must ensure consistent energy output with contractual performance guarantees.</p>
<p>The company has devised state-specific strategies for O&amp;M. In Rajasthan, VSL will provide dust mitigation and thermal management solutions in arid zones, and in Madhya Pradesh, it will ensure grid synchronization and terrain-specific O&amp;M services. It will also include corrosion control and coastal resilience planning for Andhra Pradesh.</p>
<p>VSL must attend to string outages daily, restore inverter tripping, and respond to all breakdowns/tripping. It must also restore the system in the minimum possible time.</p>
<p>According to the tender, the successful bidder must man the control room round the clock.</p>
<p>VSL must also submit periodic reports to NGEL on the energy generation and operational condition of the solar projects and their associated equipment.</p>
<p>The contract also covers cleaning of drains, cable trenches, and box culverts.</p>
<p>It must also include an annual maintenance contract, spare supply agreement, and an operational level agreement for components such as battery charger items, uninterruptible power supply, and power packs to ensure critical equipment availability.</p>
<p>VSL Must perform annual testing of all spare equipment and in-service equipment, and ensure a minimum of 18 module cleaning cycles annually.</p>
<p>In July 2025, NGEL <a href="https://mercomindia.com/ntpc-green-issues-om-tender-for-160-mw-solar-project" target="_blank" rel="noopener">invited</a> bids for the O&amp;M of a 160 MW solar project at Jetstar, Rajasthan, for two months.</p>
<p>In the same month, NGEL <a href="https://www.mercomindia.com/ntpc-green-floats-om-tender-for-250-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">invited</a> bids for the comprehensive O&amp;M of its 250 MW Shimbhu ki Bhurj-I solar project for two months in Rajasthan.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>


VSL Renewable Wins O&M Contract for NTPC Green’s 810 MW Solar Projects


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					</table><p>NTPC Green Energy (<a href="https://www.ngel.in/" target="_blank" rel="noopener">NGEL</a>) has invited bids to deploy a qualified coordinating agency (QCA) for forecasting, scheduling, and aggregation services at a 296 MW solar power project in Fategarh, Uttar Pradesh.</p>
<p>Bids must be submitted by August 7, 2025. Bids will be opened on the same day.</p>
<p>Bidders must submit a security amount of 10% of the contract value.</p>
<p>Successful bidders must provide services for 12 months. These services could be extended per NGEL’s requirements.</p>
<p>The scope of work encompasses collecting real-time data on power generation and installing modem-based energy meters.</p>
<p>Alternatively, selected bidders must make arrangements for real-time data from the supervisory control and data acquisition systems site, as well as the analysis of all available static and historical data.</p>
<p>The scope of work also entails integrating weather data, setting up the forecast model, collecting available data for solar inverters/transformers, and collecting weather data from reputable forecasting agencies.</p>
<p>Successful bidders must provide a day-ahead/week-ahead schedule/forecast as prescribed by the regional load dispatch centre (RLDC) or the state load dispatch centre.</p>
<p>The schedule will be 96 blocks of 15 minutes each, from 00:00 hours to 10:00 AM the next day.</p>
<p>Selected bidders must provide intra-day revisions to the forecast/schedule per the provisions of the applicable deviation settlement mechanism (DSM), and coordinate and implement the revised schedule.</p>
<p>Successful bidders must provide a web-based application for the live display of real-time data and graphical trends of the latest schedule and actual project generation.</p>
<p>All data collected related to the DSM collected during the contract period must be stored for the contract’s duration.</p>
<p>Selected bidders must provide 24/7 support services and establish a team of renewable resource analysts, modeling statisticians, energy modelers, and a full-time operation and monitoring team.</p>
<p>The QCA must coordinate and facilitate power scheduling for all power generators participating in the aggregation at the pooling station with the relevant RLDC. It must also undertake commercial settlement of deviations with these centers.</p>
<p>Selected bidders must establish and maintain a round-the-clock coordination center for operational coordination with RLDC and generating stations. They must</p>
<p>maintain records and accounts of the time-block-wise schedules, the actual power injected, and the deviation, for both the pooling station and individual generators.</p>
<p>Successful bidders must also share the data with the power generators.</p>
<p>The scope of work also entails maintaining a weekly record of de-pooling of DSM by RLDC or a renewable energy agency for the aggregated capacities as per schedule. A record of the actual power generation of individual generators must be maintained to determine the DSM calculation, including payable or receivable amounts based on individual under-injection or over-injection.</p>
<p>The QCA must verify the pool DSM with actual data and identify discrepancies.</p>
<p>It must share the power generator’s data, including the de-pooled DSM impact. It must also share the pool data of other power generators, as published by RLDC, through a real-time portal updated weekly.</p>
<p>Recently, NGEL <a href="https://www.mercomindia.com/ntpc-green-invites-bids-to-select-coordinating-agency-for-250-mw-solar-project">invited</a> bids for the deployment of QCA to provide forecasting, scheduling, and punching of finalized schedules into the relevant grid portal and aggregation services for its 250 MW solar power project at Anantapur, Andhra Pradesh.</p>
<p>In June, the Haryana Electricity Regulatory Commission <a href="https://www.mercomindia.com/herc-amends-formula-to-calculate-net-worth-of-qualified-coordinating-agencies#:~:text=Considering%20this%2C%20the%20net%20worth,shall%20reflect%20from%20its%20audited">amended</a> the formula for calculating the net worth criteria for selecting a QCA.</p>
<p>Subscribe to Mercom’s India <a href="https://www.mercomindia.com/product/india-solar-tender-tracker">Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


NTPC Green Invites Bids to Select QCA for 296 MW Solar Project


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					</table><p>NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>) has invited bids for the comprehensive operation and maintenance (O&amp;M) of its 250 MW Shimbhu ki Bhurj-I solar project for two months in Rajasthan.</p>
<p>Bids must be submitted by August 4, 2025. Bids will be opened on the same date.</p>
<p>Successful bidders must furnish a bid security of 10% of the contract value.</p>
<p>Bidders are encouraged to visit the project site to familiarize themselves with the nature and scope of work, site conditions, and obtain all necessary information regarding the risks, contingencies, and other factors that may influence their bids.</p>
<p>The scope of work includes module and inverter cleaning, and cutting and disposal of grass and bushes from the entire 1,500-acre project area once during the contract period. It also involves performing O&amp;M of the 400 KV S/C transmission line from the SKB-I common power system stabilizer to the Bhadla-II solar park phase.</p>
<p>Selected bidders must deploy at least one site-in-charge, eight graduate engineers, and 24 technicians with solar project O&amp;M experience. They must also provide consumables such as fuses, connectors, and testing tools.</p>
<p>Successful bidders must ensure daily attendance during string outages, restore inverter tripping, attend all breakdowns/tripping incidents, and restore the system in the shortest possible time. They must thoroughly investigate all the high-tension tripping and the equipment involved and prepare a root cause analysis of these incidents.</p>
<p>Selected bidders must man the control room on a 24&#215;7 basis. The project’s supervisory control and data acquisition will be the primary tool to monitor the operating status of various equipment.</p>
<p>Earlier this month, NGEL <a href="https://www.mercomindia.com/ntpc-green-issues-om-tender-for-160-mw-solar-project" target="_blank" rel="noopener">invited</a> bids for the O&amp;M of a 160 MW solar project at Jetstar, Rajasthan, for two months.</p>
<p>In May this year, NGEL also <a href="https://www.mercomindia.com/ntpc-green-tender-acquire-solar-projects" target="_blank" rel="noopener">invited</a> expressions of interest from renewable energy companies having power purchase agreements with intermediary procurers to acquire solar projects with a minimum cumulative capacity of 50 MW.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>


NTPC Green Floats O&M Tender for 250 MW Solar Project in Rajasthan


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					</table><p>NTPC Renewable Energy (<a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC REL</a>) has invited bids for land and power evacuation packages for NTPC Green Energy’s (<a href="https://www.ngel.in/" target="_blank" rel="noopener">NGEL</a>) 240 MW solar projects with battery energy storage systems (BESS) in Devikot, Rajasthan.</p>
<p>The last date to submit bids is April 29, 2025. Bids will be opened on the same day.</p>
<p>Bidders must submit an earnest money deposit of ₹20 million (~$231,634) and ₹22,500 (~$260.58) as the bid procurement fee.</p>
<p>The scope of work involves land arrangement, securing the approach road until the pooling substation, topography survey for land parcels, geotech investigation for pooling substation and transmission system, land-fencing, and lease management for private land.</p>
<p>It also entails design, engineering, supply, erection, testing, and commissioning of pooling substations, transmission line from pooling substation, design and construction of terminal bay, telemetry system for data communication, installation of common power project controller, and conducting grid compliance study for the solar installation and BESS.</p>
<p>It also covers the operation and maintenance of the pooling substation, transmission line, and terminal bay at Devikot for three years.</p>
<p>Bidders must have arranged land for an estimated 5 acres/MW for a minimum lease period of 29 years and 11 months. They can use a maximum of 10% of government land for the project.</p>
<p>They must ensure an average slope of 10% for installing tracker-based module mounting structures. The slope must be in one direction for at least 100m in length.</p>
<p>Bidders must pay lease charges to landowners on behalf of NTPC REL. The charges would be reimbursed to the developer.</p>
<p>They must have executed land arrangements for grid-connected solar projects and parks, wind projects, and parks, or a combination of all. The executed projects must have a minimum cumulative capacity of 100 MW. At least one project/park must have a minimum capacity of 50 MW and be in a single location.</p>
<p>Alternatively, bidders must have executed works amounting to ₹235 million (~$2.72 million) as developers or as engineering, procurement, and construction (EPC) contractors in power/ steel/ oil and gas/ petrochemical/ fertilizer/cement/coal mining, including coal handling plant and/ or any other process industry.</p>
<p>They must have operated projects in the non-renewable energy sector for at least one year and six months for projects in the renewable energy sector.</p>
<p>Additionally, they must have experience in executing at least one electrical substation with a minimum voltage level of 33 kV, either as developers or EPC contractors.</p>
<p>They must have successfully operated an electrical substation in the non-renewable energy sector for at least one year and six months for projects in the renewable energy sector.</p>
<p>Bidders must have a minimum annual turnover of ₹235 million (~$2.72 million) in the last three financial years.</p>
<p>Recently, NTPC REL  <a href="https://www.mercomindia.com/ntpc-rel-invites-bids-for-land-power-evacuation-for-550-mw-solar-project" target="_blank" rel="noopener">invited</a> bids for the land and power evacuation package to develop 550 MW interstate transmission system-connected solar projects with a battery energy storage system near the 550 MW Shimboo ka Burj solar project in Rajasthan.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real-time.</p>


NTPC Invites Bids for Land and Power Evacuation for 240 MW Solar Projects


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					</table><p>NTPC Green Energy (NGEL), a wholly owned subsidiary of <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>, has invited expressions of interest from India-based or global offshore wind power companies to form a consortium to develop offshore wind power projects in India.</p>
<p>NGEL plans to collaborate with a partner company with knowledge and experience in offshore wind project development across the globe.</p>
<p>In the long term, the consortium is expected to help NGEL develop in-house expertise and subsequently develop solutions for the execution and maintenance of offshore wind projects.</p>
<p>With the help of these projects, NTPC intends to reach a renewable energy capacity target of 60 GW by 2032.</p>
<p>The last date to submit the bids is August 14, 2023. Bids will be opened on August 16.</p>
<p>To be eligible, the bidders must have commissioned at least 200 MW of offshore wind power projects globally. They should have operation and management experience of a minimum of 500 MW of cumulative capacity of offshore wind turbines.</p>
<p>They should have at least three years of experience in owning, operating, and decommissioning offshore wind energy projects. They should also have a minimum of five years of project management experience.</p>
<p>The company should have managed marine surveys for offshore wind development and commissioned offshore wind transmission systems for at least 50 MW projects.</p>
<p>The company must have in place policies for environment, health and safety, quality assurance, anti-bribery, antifraud, anti-slavery, and anti-collusion. They should not have any major pending litigation or be in breach of national security.</p>
<p>The net worth of the bidders must be a minimum ₹12.5 billion (~$151.74 million), and their annual turnover for the last three financial years must be a minimum ₹5 billion (~$60.69 million).</p>
<p>They must also have a plan in place to meet the funding requirements for the projects and be experienced in raising ₹5 billion (~$60.69 million) to ₹10 billion (~$121.39 million).</p>
<p>Under the agreed capital contribution for the development of the projects, NGEL will provide milestone funding on mutually agreed terms.</p>
<p>In June last year, R.K Singh, Union Minister for Power and New &amp; Renewable Energy, <a href="https://www.mercomindia.com/mnre-tender-lease-sea-bed-4-gw-of-offshore-wind" target="_blank" rel="noopener">announced</a> that bids for offshore wind energy blocks of 4 GW annually for three years would be issued annually. Starting the financial year 2022-23, the bids will be released for projects to be developed in Tamil Nadu and Gujarat.</p>
<p>Following the announcement, in November 2022, the Ministry of New and Renewable Energy <a href="https://www.mercomindia.com/bids-for-12-gw-of-offshore-wind-energy" target="_blank" rel="noopener">issued</a> a draft tender to select wind power developers for leasing sea-bed areas to develop 4 GW of offshore wind power projects off the coast of Tamil Nadu.</p>
<p>In May 2023, the Ministry of Power <a href="https://www.mercomindia.com/ists-waived-offshore-wind-green-hydrogen-ammonia" target="_blank" rel="noopener">extended</a> the purview of inter-state transmission charges waiver to include offshore wind projects to facilitate the implementation and expansion of these projects.</p>


NTPC Invites Bids to Form Consortium to Develop Offshore Wind Projects


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					</table><p><a href="https://cms.mercomindia.com/mercoms-second-series-begins-in-bengaluru/" target="_blank" rel="noopener"><strong>Mercom India held the first event of the “C&amp;I Clean Energy Meet 2023” series in Bengaluru.</strong></a> The event was hosted in partnership with the Federation of Karnataka Chambers of Commerce and Industry (FKCCI). FKCCI is an apex organization for industry, trade, and service sectors in Karnataka and has been in operation for over a century. The Clean Energy Meet series, hosted across major cities in India, focuses on C&amp;I businesses transitioning to renewables for their energy needs. These events provide an unique single platform for consumers to come face to face with renewable energy stakeholders to understand and implement the benefits of the renewable transition.</p>
<p><a href="https://www.mercomindia.com/government-ntpc-invest-30-net-worth-green-arm" target="_blank" rel="noopener"><strong>The government has allowed NTPC to invest in its subsidiary, NTPC Green Energy (NGEL), beyond the limit allowed for a ‘maharatna’ central public sector enterprise (CPSE). </strong></a> The extant guidelines prescribe a ceiling of 30% of a CPSE’s net worth for making such investments. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, also exempted NGEL’s investment in NTPC Renewable Energy and its other joint ventures and subsidiaries, subject to a ceiling of 15% of its net worth beyond the monetary ceiling of ₹50 billion (~$605 million) to ₹75 billion (~$1 billion).</p>
<p><a href="https://cms.mercomindia.com/brookfield-aquire-kkrs-stake-x-elio/" target="_blank" rel="noopener"><strong>Global investment firm Kohlberg Kravis Roberts (KKR) has agreed to sell 50% of its stake in renewable developer X-ELIO to its joint venture partner Brookfield Renewable</strong></a>. Financial details were not disclosed. Since KKR’s initial investment in 2015, followed by Brookfield’s acquisition of a 50% stake in 2019, X-ELIO has benefitted from over $2 billion of investment. X-ELIO has constructed or developed 3 GW of renewable energy projects globally.</p>
<p><strong><a href="https://www.mercomindia.com/maharashtra-tariffs-8-7-mw-solar-power-under-kusum" target="_blank" rel="noopener">The Maharashtra Electricity Regulatory Commission (MERC) has adopted tariffs of ₹3.28 ($0.039)/kWh, ₹3.29 ($0.039)/kWh, and ₹3.30 (~$0.040)/kWh for the procurement of 8.7 MW of solar power on a long-term basis.</a></strong> The Commission noted that the solar power procured from the projects would be eligible to fulfill the solar renewable purchase obligation (RPO) of the Maharashtra State Electricity Distribution Company (MSEDCL).</p>
<p><a href="https://cms.mercomindia.com/iit-mandi-solar-cell-metal-oxide-layers/" target="_blank" rel="noopener"><strong>Researchers at the Indian Institute of Technology Mandi (IIT Mandi) have claimed a breakthrough in producing metal oxide layers for use in advanced architecture silicon solar cells using a cost-effective</strong></a> method. This innovative process could pave the way for the commercial production of advanced solar cells with improved efficiency and lower costs, contributing to the widespread adoption of renewable energy sources.</p>
<p><a href="https://www.mercomindia.com/indian-oil-om-8-mw-solar-project-ahmedabad" target="_blank" rel="noopener"><strong>Indian Oil Corporation (IOCL) has invited bids for the operation and maintenance (O&amp;M) of an existing 8 MW solar power project at the LPG bottling plant at Sanand in Ahmedabad for five years.</strong></a> The last date to submit the bids is April 15, 2023. Bids will be opened on April 17. The project’s estimated cost is ₹40.9 million (~$494,921). Bidders need not submit any earnest money deposit to participate in bidding. The successful bidder must submit an amount equivalent to 3% of the total contract value as a security deposit.</p>
<p><a href="https://www.mercomindia.com/sterling-and-wilson-bos-package-solar" target="_blank" rel="noopener"><strong>Sterling and Wilson Renewable Energy, the solar engineering, procurement, and construction (EPC) arm of Shapoorji Pallonji Group</strong></a>, won NTPC’s tender for the balance of system (BOS) package to develop 1.2 GW (4*300 MW) of solar power projects at Khavda renewable park in Gujarat. The aggregate capacity of the project is approximately 1.5 GW. The total bid value, including the operation and maintenance for 3 years, is ₹21 billion (~$254 million).</p>
<p><a href="https://www.mercomindia.com/jsw-greenko-win-karnatakas-1-gw-pumped-storage-projects" target="_blank" rel="noopener"><strong>JSW Neo Energy (JSW Energy) and Greenko KA 01 IREP (Greenko) have won the Power Company of Karnataka’s (PCKL) auction to supply 1 GW of energy for 8 hours daily from pumped hydro storage</strong></a> projects providing continuous 5-hour discharge. JSW Neo Energy won 300 MW by quoting ₹14.75 million (~$178,661), and Greenko bagged 700 MW by quoting ₹14.76 million (~$178,782) under the bucket-filling method. Greenko had quoted for 960 MW. The starting price for the e-reverse auction was set as ₹14.88 million (~$180,235).</p>
<p><a href="https://cms.mercomindia.com/india-voices-concern-over-europes-carbon-tariff-measure-at-wto/" target="_blank" rel="noopener"><strong>India has expressed concern about the carbon border measures proposed by the European Union (EU) at a recent meeting of the World Trade Organization’s (WTO) Committee on Trade and Environment</strong></a>. Presenting a paper on the increasing use of environmental measures as protectionist non-tariff barriers, India said it was concerned about the proposed Carbon Border Adjustment Mechanism (CBAM), which seeks to impose a carbon tariff on carbon-intensive products imported into Europe.</p>
<p><a href="https://cms.mercomindia.com/constant-climate-centric-funding-can-limit-global-temperature-under-1-5c/" target="_blank" rel="noopener"><strong>Financial support from developed economies to developing nations which is a critical enabler of climate action has been inadequate, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC)</strong></a> report highlighting that the promised mobilization of $100 billion under the Paris Climate Accord hasn’t materialized for the developing countries. India welcomed the much-needed financial support to provide developing countries with the required technology to help cut greenhouse gas emissions. The report emphasized that India has consistently held the position that development is our first defense against climate change.</p>
<p><a href="https://cms.mercomindia.com/ntpcs-subsidiary-projects-for-indianoil-refineries/" target="_blank" rel="noopener"><strong>NTPC Limited’s wholly owned subsidiary, NGEL, has entered into a joint venture agreement with Indian Oil Corporation (IOCL) to develop renewable energy projects</strong></a> that can meet round-the-clock power requirements to meet the electricity demands of IOCL refineries. The signing of the joint venture agreement between NTPC Limited and IOCL is expected to facilitate the two companies in achieving the Clean Energy Targets set by the Government of India in their respective core businesses, an official statement said.</p>


Daily News Wrap-Up: Mercom’s Second Edition of C&I Clean Energy Meet Series Begins


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					</table><p>The government has allowed <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> to invest in its subsidiary, NTPC Green Energy (NGEL), beyond the limit allowed for a ‘maharatna’ central public sector enterprise (CPSE).</p>
<p>The extant guidelines prescribe a ceiling of 30% of a CPSE’s net worth for making such investments.</p>
<p>The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, also exempted NGEL’s investment in NTPC Renewable Energy and its other joint ventures and subsidiaries, subject to a ceiling of 15% of its net worth beyond the monetary ceiling of ₹50 billion (~$605 million) to ₹75 billion (~$1 billion).</p>
<p>NTPC has set a target of reaching a renewable energy operational capacity of 12 GW by 2025 and 60 GW capacity by 2032.</p>
<p>The exemption will help decrease India’s dependency on conventional sources of energy by diversifying the country’s energy generation sources and decreasing the coal import bills. Further, it will also help ensure a 24X7 power supply to every corner of the country.</p>
<p>The exemption will accelerate India’s efforts in achieving the goal of 500 GW of non-fossil energy capacity by the end of the current decade.</p>
<p>The investments by NTPC and its subsidiaries align with the government’s ‘Panchamrit’ program that was announced at the COP26 Summit as part of India’s contribution to climate action.</p>
<p>NTPC Green Energy has 15 renewable energy assets of 2,861 MW, which are operational or nearing commercial operation date.</p>
<p>NTPC incorporated its green energy arm in April 2022 to support its green targets and <a href="https://www.mercomindia.com/ntpc-to-transfer-15-renewable-assets-worth" target="_blank" rel="noopener">inked</a> a business transfer agreement with the latter to transfer its 15 solar and wind assets.</p>
<p>The projects have a combined capacity of 2.8 GW. Of the 15 renewable projects, 13 projects with 2.2 GW capacity are fully operational, and the remaining two projects totaling 600 MW have attained an operational capacity of 350 MW.</p>
<p>The net worth of the 15 renewable energy assets is ₹13.7 billion (~$171.8 million) as of March 31, 2022, which is 1% of the net worth of NTPC, i.e., ₹1.4 trillion (~$17 billion).</p>
<p>Last month, NGEL <a href="https://www.mercomindia.com/ntpc-proposals-green-term-loan-of-%e2%82%b990-billion" target="_blank" rel="noopener">invited</a> proposals from banks for a green term loan of up to ₹90 billion (~$1 billion) to repay debt obligations towards NTPC against the acquisition of 15 renewable assets.</p>


Government Allows NTPC to Invest Over 30% of Net Worth in its Green Arm


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					</table><p><a href="https://www.indiainfoline.com/company/ntpc-ltd-share-price/12001" target="_blank" rel="noopener">NTPC </a>has approved the transfer of 15 renewable energy assets to NTPC Green Energy, a wholly-owned subsidiary of NTPC, through a business transfer agreement.</p>
<p>Revenue from 15 renewable energy assets intended to be transferred is ₹9.17 billion (~$115.39 million) in FY 2022, which is 0.68% of NTPC&#8217;s total revenue of ₹1.35 trillion (~$16.98 billion) as of March 31, 2022.</p>
<p>The net worth of the 15 renewable energy assets is ₹13.65 billion (~$171.77 million) as of March 31, 2022, which is 1.01% of the net worth of NTPC, i.e., ₹1.35 trillion (~$16.98 billion).</p>
<p>The consideration for the transfer of the renewable energy assets has been set at ₹100.67 billion (~$1.26 billion) based on the book value as per the audited financials as of March 31, 2022, payable through a combination of cash, equity shares, and debt liability.</p>
<p>NTPC also decided to transfer 100% equity shareholding held in NTPC Renewable Energy, a wholly-owned subsidiary of NTPC, to NTPC Green Energy through a share purchase agreement. NTPC Renewable Energy&#8217;s proposed transfer revenue is ₹7.8 million (~$98,160) in FY 2022. The net worth of NTPC Renewable Energy is ₹7.28 billion (~$91.61 million) as of March 31, 2022, which is 0.52% of NTPC&#8217;s net worth.</p>
<p>The sale and transfer of assets are expected to be completed within 120 days.</p>
<p>Recently, NTPC Renewable Energy <a href="https://mercomindia.com/daily-news-wrap-up-total-eren-commissions-solar-project/" target="_blank" rel="noopener">inked</a> an agreement with Gujarat Alkalies and Chemicals (GACL) to meet its green energy and green hydrogen objectives. The agreement envisions collaboration on renewable energy, green methanol, and green ammonia and exploring opportunities to supply 100 MW of round-the-clock renewable power.</p>
<p>NTPC Renewable Energy also <a href="https://mercomindia.com/daily-news-wrap-up-ntpc-develop-10-gw-renewable-park/" target="_blank" rel="noopener">signed</a> a memorandum of understanding (MoU) with the Rajasthan government to develop a 10 GW ultra mega renewable energy power park. The MoU marks another step toward achieving the renewable capacity addition targets of NTPC.</p>
<p>NTPC REL has won 4 GW renewable energy capacity by bidding for tenders that are being implemented. It is also developing an  Ultra Mega renewable energy power park of 4.75 GW capacity in the Rann of Kutch, Gujarat.</p>


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