Apraava, Avaada, JSW and Renew Secure Wins in NTPC's 1,500 MW Solar Power Auction

Apraava Energy, Avaada Energy, ReNew Solar Power, and JSW Neo Energy emerged as winners in NTPC's auction to establish 1,500 MW of interstate transmission system (ISTS)-connected solar power projects, Tranche III.

The auction, initiated by NTPC in February 2024, attracted bids from various companies in the energy industry. Apraava Energy offered the lowest tariff of INR 2.68/kWh to secure a 50 MW allocation. Following closely behind, Avaada Energy and ReNew Solar Power secured contracts for 750 MW and 300 MW, respectively, with a tariff of INR 2.69/kWh.

JSW Neo Energy secured 400 MW out of the 700 MW quoted capacity at a tariff of INR 2.69/kWh.

NTPC Ltd. had invited online bids from eligible bidders on Single Stage Two Envelope (Envelope-I: Technical Bid and Envelope-II: Financial Bid) with reverse auction for selection of solar power generators for setting up this project.