NTPC wins 85 MW solar capacity in a reverse auction held by UP government

State-run power producer NTPC Wednesday said it has won 85 mega watt (MW) of solar capacity in a reverse auction held by the UP government.

"NTPC participated in the 550 MW tender floated by Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for grid-connected solar projects.

In the reverse auction held on December 3, 2018, NTPC participated for 85 MW solar capacities and has won the entire capacity bid by it, at a levelised tariff of Rs 3.02/unit, applicable for 25 years," the company said in a regulatory filing.

The above 85 MW of solar projects shall be set up by NTPC and shall add to the installed capacity of NTPC, the company added.

Shares of NTPC were trading 0.42 per cent higher at Rs 143.40 apiece on BSE.