NTPC plans to invest about Rs. 8,100 crore for setting up over 1,000 MW renewable energy projects by 2017. The company has set a target of adding at least 1,000 MW of power through renewable energy sources by the end of the next Plan period (2012-17), according to sources in the Power Ministry.
This capacity addition is likely to consist of:
- wind energy projects (650 MW)
- hydro energy from units of smaller than 25 MW each (350 MW) and
- solar energy projects (50 MW).
In terms of costs, on an average, generating one MW of hydro power costs Rs. 7 crore, wind power Rs. 8 crore and solar Rs. 10 crore.
The company has signed an agreement with Karnataka Power Corporation for setting up wind energy projects aggregating 500 MW capacity. The first 100 MW renewable plant based on wind energy is likely to be commissioned by the end of 2010.
As mentioned in an earlier post on this site, NTPC has also signed an MoU with Madhya Pradesh Government and MP Power Trading Company to set up 2,640 MW thermal power plant at Narsinghpur.