Indian renewable energy company Tata Power Solar has secured a 50MW solar energy project from state-run utility firm National Thermal Power Corporation (NTPC).

Planned in Rajgarh, Madhya Pradesh, the project is a part of NTPC’s plan to increase its renewable energy portfolio by two-fold to 1,000MW by 2017.

The solar energy project is estimated to produce 78.66 million units (kWh) of energy per annum following its commissioning, which is due in March 2014. Power output will be procured by MP Power Trading Company to facilitate state’s annual peak deficit of 9.6%.

NTPC has awarded the project to Tata looking at its strong technical capabilities and competitive pricing, according to the statement.

NTPC technical director AK Jha noted: "NTPC plans to broad-base generation mix through conventional and nonconventional sources of energy to ensure long term competitiveness and mitigate fuel risk."

Tata Power Solar CEO Ajay Goel said: "We are proud to be partnering with NTPC on this flagship 50MW solar project to bring much needed peak power to Madhya Pradesh.

"This project brings together two of our core strengths in solar- market leading solar module manufacturing and, competitive, high-quality engineering, procurement and construction (EPC) capability."