NTPC, Gujarat Power ink pact
PTI
Ahmedabad, March 20
The NTPC today inked a memorandum of understanding with the Gujarat Power Corporation for setting up renewable energy power projects of 500 MW in the state.

"The MoU inked between the Gujarat Power Corporation and the NTPC envisages power projects in the renewable energy sector with capacity of 500 MW which will require investment of around Rs 4,000 crore," Minister of State for Power Bharatsinh Solanki, who was present at the signing of the MoU, said.

The NTPC had also shown interest in setting up a 1,000 MW coal-based power project near Khambhat in Gujarat and the state government had responded positively to the offer, Solanki said.

On the MoU, Solanki said this was an attempt to encourage the renewable energy sector in the state.

As per the agreement, the NTPC will fund the projects while GPCL will assist in identifying suitable location, clearances from the state government agencies and power evacuation.

Of 500 MW projects, a 50 MW solar power project will be set up by the NTPC in the state in either Kutch or Banaskantha district where Rs 500 crore investment will be made while a 250 MW wind far project will be put up in Kutch. — PTI