PremiumNEW DELHI: State-o NTPC Ltd on Saturday commissioned India’s largest floating solar photo voltaic (PV) project of 25 mega watt (MW) on the water reservoir of its 2 gigawatt (GW) Simhadri project at Visakhapatnam in Andhra Pradesh.
“This is also the first solar project to be set up under the Flexibilisation Scheme, notified by the Government of India in 2018," India’s largest power generation utility said in a statement on Saturday.
The project is part of NTPC’s plan to have 60 gigawatt (GW) renewable energy capacity by 2032 from around 4GW today. NTPC plans to invest ₹1 trillion between 2019 and 2024 to become a 130GW power producer by 2032.
“NTPC is also planning to set up a hydrogen-based micro-grid system on a pilot basis at Simhadri," the statement said.
Subsidiary NTPC REL has also inked a pact with the union territory of Ladakh for a green hydrogen mobility project, with the company along with NVVN jointly executing the project.
“The floating solar installation which has a unique anchoring design is spread over 75 acres in an RW reservoir. This floating solar project has the potential to generate electricity from more than 1 lakh solar PV modules," the statement said.
With a paid up equity of $1.3 billion and $13.32 in revenue, NTPC Group registered a net profit of $1.85 billion in 2020-21. NTPC has announced its target of 10% reduction in net energy intensity as part of its energy compact goals. Currently, the public sector unit has an installed capacity of around 67 GW across 71 power projects with an additional 17 GW under construction.
“This would not only help to light around 7,000 households but also ensure that at least 46,000 tons of CO2e are kept at arm’s length every year during the lifespan of this project. The project would also save 1,364 million litres of water per annum. This would be adequate to meet the yearly water requirements of 6,700 households," the statement added.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!