State-run NLC India Ltd said on Saturday it has received a Letter of Award (LoA) from NTPC Ltd to develop a 450 MW interstate transmission system (ISTS)-connected wind-solar hybrid power project.
Under the contract, NLC will supply hybrid power to NTPC for 25 years under a power purchase agreement (PPA). The project will be developed in two locations – 300 MW in Bikaner, Rajasthan and 150 MW in Bhuj, Gujarat, the company said in a regulatory filing.
The hybrid power supply is expected to commence within 24 months from the effective date of the PPA, NLC said.
The order does not fall under related-party transactions, and neither NLC’s promoter group nor NTPC’s has any cross-holding interests, the company added.
NLC India is a Navratna PSU under the Ministry of Coal and is expanding aggressively in renewable energy projects across India.
Shares of the company ended largely unchanged at a price of ₹229 apiece on Friday.Â
