NTPC to issue 100MW wind farm tender

NTPC to tender out in a couple of weeks US$125 million contract for 100MW wind power plant. It will help the utility to claim tax breaks for up to 10 years and avail depreciation benefits of up to 80% on investment in the first year of a project’s operation

The wind power project is part of a strategy of NTPC, India’s largest electricity generator, to reduce its dependence on thermal energy. NTPC generates 30,644MW of power. It plans to use sources such as wind, hydro, solar, biomass and geo-thermal energy to generate 1,000MW by 2017.NTPC net profit in 2008 is US$1/63billion on a reveue of US$8.8billion. Cash reserves US$9.2billion. It will also be moving into Nuclear power soon.

NTPC has signed an agreement with the Asian Development Bank for generating 500MW of renewable energy. In addition, NTPC also plans to spend to set up two wind power projects of 500MW each in Karnataka and Maharashtra.