NTPC receives investment approval for two solar projects

05 April, New Delhi

Energy conglomerate NTPC Tuesday received its board’s approval for investment in two solar projects with an estimated cost of Rs 3,104 crore situated at Rajasthan and Madhya Pradesh.

The Mandsaur Solar PV Project (5×50 MW) in Madhya Pradesh is at an appraised estimated cost of Rs 1,502.77 crore while Bhadla Solar PV Project (4×65 MW) in Rajasthan is at cost of Rs 1,601.27 crore. Both the projects are expected to be commissioned by March 2017, the company said in a statement.

NTPC is engaged in generating power which includes consultancy, power management institute and research and development center. The company’s shares were trading down 1.3per cent or Rs 2.75 at Rs 128.30 per share from the previous day’s close.

”We have placed the order for two projects. One is in Rajasthan for 260 megawatts with four blocks of 65 megawatt each. And the other order which has been placed for Madhya Pradesh five blocks of 50 megawatts each will be commissioned by March, 2017,” said AK Jha, Director-Technical, NTPC.