NTPC, MSPGCL to ink pact soon for 2,500 MW ultra solar park
| Date :08-Apr-2022 |
Staff Reporter
Two big players in the energy sector of the country — National Thermal Power Corporation (NTPC) and Maharashtra State Power Generation Company Limited (MahaGenco) are joining hands to establish 2,500 MW ultra solar park in State. The two companies would soon formally ink pact laying out details of execution of the plan.
The proposal of MahaGenco that envisages 50:50 equity partnership, was approved by Maha Vikas Aghadi (MVA) Government in its cabinet meeting held at Mumbai on Thursday.
With Ultra Mega Renewable Energy Solar Park (UMRESP) clicking in the country, NTPC is tying up with respective state distribution utilities giving a boost to the investment in renewable energy sector.
As per preliminary plan, MahaGenco has identified seven to eight sites across State for maximising gains from shining sun.
The project was in the pipeline for last few years and
expected commissioning was of 2023, but given the nascent stage final dateline would be known once the agreement is signed.
As per the plan, the sites proposed by MahaGenco for solar plants are Dhule (around 950 MW), Bhandgaon (450 MW), Sayne (250 MW and another 250 MW), Nagpur (250 MW), Akoli-Khamgaon (250 MW), Dombar Javalge-Solapur (300 MW), Shirur-Beed (250 MW), Dhawalpuri-Ahmednagar (650 MW), Pedgaon-Hingoli (250 MW). All the solar panels will be ground mounted.
Apart from that, MahaGenco is investing heavily in renewable energy and has already planed for 187 MW solar power for which plants would come-up at Kaudgaon (50 MW), Latur (60 MW), and at vacant land at existing thermal power station at Bhusawal, Koradi, Parli and Nasik (52 MW) and Sakri (25 MW). German Government's KFW is financing these projects.
Also in Vidarbha 350 MW solar power plants are identified including Washim (170 MW), Yavatmal (75 MW) and Kachrala, Chandrapur (145 MW).
The advantage with UMPP is that its facilitates a single Central grid connection. Also with State Government in partnership the contentious issue of land acquisition is also taken care of.
Further, the mega project provides economy of scale that have evoked global interest and leading financial institution are ready to finance these solar parks. With inherent advantage of economy the solar tariffs are also in affordable range that has attracted State Discoms who are saddled with huge debt by heavy investment in thermal power plants.
Also, for viability of the new projects, Central Government has ensured that Solar Energy Corporation of India (SECI) and NTPC Limited underwrite power supply agreements (PSA) with the new solar parks.
For international investors the two Central agencies
in loop ensure assured returns as former sign power purchase agreements (PPA) with State-run distribution companies.