NTPC board approves Rs 346 cr solar project in Madhya Pradesh

NEW DELHI: State-run power producer NTPC today said its board has approved setting up of a 50 MW solar energy project in Madhya Pradesh, estimated to cost over Rs 346 crore.

The decision was taken at the company's board meeting yesterday.

"... the board of directors of the company at its meeting held on June 25, 2013, has accorded investment approval for the development of 50 MW solar Photo Voltaic based project at Rajgarh, Madhya Pradesh at an appraised current project cost of Rs 346.42 crore," NTPC said in a regulatory filing.

NTPC has plans to have renewable energy portfolio of 1,000 MW by 2017.

Currently, the utility has an overall electricity generation capacity of 41,184 MW.

Shares of the company rose more than two per cent to close at Rs 141.20 on the BSE.