HomeBusiness ›BPCL, Mahindra Susten, Onward Solar, and ReNew Emerge as Key Winners in NTPC's 1.2 GW Solar Auction

BPCL, Mahindra Susten, Onward Solar, and ReNew Emerge as Key Winners in NTPC's 1.2 GW Solar Auction

Bharat Petroleum (BPCL), Illuminate Hybren (Mahindra Susten), Onward Solar, ReNew Solar, and Adyant Enersol has emerged as winners in NTPC's 1.2 GW solar auction, securing 816 MW of capacity at tariffs between INR 2.55 and INR 2.60/kWh. The auction focuses on developing ISTS-connected solar projects across India.

December 23, 2024. By EI News Network

Bharat Petroleum (BPCL), ReNew Solar, Illuminate Hybren (Mahindra Susten), Onward Solar, and Adyant Enersol (Datta Infra) has secured 816 MW in NTPC's 1.2 GW solar auction. The tariffs ranged between INR 2.55 and INR 2.60/kWh.

The tender focuses on developing 1,200 MW of inter-state transmission system (ISTS)-connected solar power projects across India.

BPCL secured 150 MW at the lowest tariff of INR 2.55/kWh in NTPC’s solar auction. Onward Solar followed, winning 50 MW at INR 2.59/kWh. ReNew was awarded 300 MW, while Illuminate Hybren (Mahindra Susten) and Adyant Solar secured 120 MW and 100 MW respectively, at a tariff of INR 2.60/kWh.

Dineshchandra R Agarwal Infracon was allotted 96 MW out of 300 MW quoted at INR 2.70/kWh under the bucket-filling method. However, this bid is pending confirmation as it exceeds the lowest tariff by over 2 percent.

As per tender provisions, the total awarded capacity was limited to 816 MW, 80 percent of the 1,200 MW initially tendered, due to lower bid participation. The tender was floated in August 2024.

NTPC will enter into 25-year Power Purchase Agreements (PPA) with the winning developers. Projects can be developed anywhere in India on land acquired or leased by bidders. The minimum bidding capacity was set at 50 MW, with increments in multiples of 10 MW. The maximum allocation to a single bidder was capped at 600 MW.

The tender prioritised commercially established and operational technologies to mitigate risks and ensure timely project completion. All modules used in the projects must be listed in the Approved List of Models and Manufacturers (ALMM) issued by Ministry of New and Renewable Energy (MNRE).

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