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ICICI Securities Report
In a significant development in renewables space, solar tariff in Solar Energy Corporation of India Ltd.’s latest round of bidding plunged to its lowest ever at Rs 2 per unit.
NTPC emerged as a big winner securing 470 megawatt at Rs 2.01/unit. As per our initial estimates, cost/mega watt for this project should range at Rs 40-42 million resulting in 12-14% internal rate of returns.
This bid win reaffirms NTPC’s competitiveness in the renewable energy space amongst global peers, as it continues its journey to become a cleaner and greener company.
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