NTPC's wholly-owned subsidiary NTPC Vidyut Vyapar Nigam Limited (NVVN) will be the nodal agency for Phase-I of the Jawaharlal Nehru National Solar Mission (JNNSM).
The national solar mission of the ministry of power, targets to operationalise 1,000 MW of grid connected solar power projects by 2013.
The subsidiary will purchase power from solar power developers and bundle it with equivalent capacity of unallocated power from NTPC's coal-fired stations for sale to state utilities/DISCOMs, the country's largest power producer informed the Bombay Stock Exchange (BSE) today.
NTPC said that the NVVN, at a board meeting held on 17 December 2010, approved the proposal for entering into power purchase agreements with 37 solar power developers for a cumulative capacity of 620MW.
The partnership comprises agreements with 30 solar power developers for 150MW of solar PV projects and seven developers for solar thermal projects of 470MW capacity under Phase-I in the first batch of the JNNSM.
This is in addition to the already available 84MW power capacity under the migration scheme of MNRE under JNNSM.
The power purchase agreements are expected to be signed before January 2011, NTPC said.