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State-owned NTPC arm gets 500 MW renewable energy project from REMCL. It stated that its subsidiary NTPC Renewable Energy Ltd (NTPCREL) has won a 500 MW renewable energy round-the-clock (RE-RTC) project.
The job was granted to REMCL, a joint venture (JV) business of the Ministry of Railways and RITES Ltd.
“NTPC REL, a wholly-owned subsidiary of NGEL which in turn is a subsidiary, received Letter of Acceptance for 500 MW RE-RTC power from REMCL,” the company stated.
The capacity was secured in a competitive bidding procedure for a total of 900 MW RE-RTC on offer which added that a 25-year power purchase agreement (PPA) will be inked with Indian Railways.
The project would provide REMCL with green energy around the clock by combining solar and wind power.