NTPC limits foreign bids for three solar projects in India

India’s state-owned energy firm National Thermal Power Corporation (NTPC) has restricted foreign investors from bidding for three new solar power projects in India.

Only domestic manufacturers will be allowed to develop the power projects, which have a combined generation capacity of 750MW, reports Reuters.

NTPC has not yet disclosed the reasons behind the decision.

Reuters cited NTPC spokeswoman as saying that Indian subsidiaries of foreign manufacturers will however be allowed to involve in solar projects in the future.

US President Barack Obama, who visited India last weekend, had approved the solar power initiatives planned by Indian Prime Minister Narendra Modi.

Obama has even agreed to finance solar power expansions in India, reports the news agency.

India wants to increase its solar power generation capacity by nearly 33 times to 100,000MW within 2022.

Investments worth $100bn have been invited for solar projects in the country, which opens up scope for US power developers such as First Solar and SunEdison.

US and India are however at mutual disagreement over state support for solar power at the World Trade Organisation.

In 2014, US had claimed that domestic content requirements (DCR) for Indian national solar programme violated WTO regulations.

NTPC, which is chiefly a thermal power developer in India, intends to commission over 11,500MW of renewable energy by 2032.