NTPC, AP power utilities sign PPA for first solar power unit

State-run NTPC Limited has signed power purchase agreements with Andhra Pradesh power utilities Andhra Pradesh Eastern Power Distribution Company Limited (APEPDCL) and Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL) under which the utilities will purchase power generated from the 250 MW solar power plant, the first phase of the 1,000 MW ultra solar power project being set up by NTPC in Anatapur district in Andhra Pradesh.

NTPC today said its board has approved Rs1,779.25 crore investment to set up a solar photo-voltaic project at Anantpur in Andhra Pradesh.

''The board of directors of the company has accorded investment approval for Anantpur 250 MW Solar PV Project in Andhra Pradesh at an appraised current estimated cost of Rs1,779.25 crore,'' NTPC said in a regulatory filing.

Country's largest power producer plans to set up 3,000 MW capacity solar power projects across the country in this financial year.

NTPC and the Andhra Pradesh power utilities have signed a power purchase agreement (PPA) for procurement of power to be generated from the 250-MW solar power plant being set up in the state. It is the first phase of the 1,000 MW Anantapur ultra solar power project.