Overview

• NLC India received a Letter of Award from NTPC on June 30 for a 450 MW ISTS-connected wind-solar hybrid project
• The development is split between 300 MW in Bikaner, Rajasthan, and 150 MW in Bhuj, Gujarat
• Under the 25-year power purchase agreement NTPC will off-take all energy generated through India’s national grid
• NLC India’s shares rose about 2.5% after the award and preparatory activities for site work are already underway
• The PPA requires full commercial supply from the hybrid plant to commence within 24 months of its effective date