Gandhinagar: India’s largest power producer NTPC plans to set up an ultra-mega solar park in Gujarat for a phased capacity of 5000 MW at an estimated investment of Rs 20,000 crore as per a report in Business daily Business Standard.

According to Gurdeep Singh, chairman and managing director, NTPC has identified two-three locations in the Kutch district and the park is likely to developed at Rs 4 crore per MW cost.

NTPC is also considering spot market options to sell some part of its solar power, without signing long term power purchase agreements. “We are exploring if we can have some capacity on merchant basis,” Singh added.

“Others can also be invited to set up capacity in these solar parks and sell the power outside or back to us,” Singh further said.

NTPC is also betting big on solar as well waste-to-energy plants. “We target to have 30,000 MW plus capacity of renewable power by 2030,” Singh said. As on June 2019, NTPC’s total installed capacity was at 55,786 Mw.