NHPC Announces Winners of 1,200 MW Tranche VI FDRE Auction

Juniper Green Energy, Avaada Energy, Jevargi Solar Power (Rays Power Infra), and ACME Solar Holdings have emerged as winners in NHPC’s Tranche VI auction for supplying 1,200 MW of firm and dispatchable renewable energy (FDRE) from inter-state transmission system (ISTS)-connected renewable projects.

The projects will  also include energy storage systems and offer an additional 1,200 MW as a greenshoe option. Juniper Green Energy and Avaada Energy were awarded 200 MW and 600 MW, respectively, both at a tariff of INR 4.56/kWh. Jevargi Solar secured 150 MW at a tariff of INR 4.48/kWh. ACME Solar, bidding for 600 MW, was allotted 250 MW under the bucket-filling method at the same tariff of INR 4.56/kWh.

The tender, floated by NHPC in June 2024, mandates that Power Purchase Agreements (PPAs) will be signed with the winning developers for 25 years, commencing from the scheduled commissioning date of the projects. NHPC will procure the renewable energy generated and sell it to state utilities or other beneficiaries.

As per the tender, developers are responsible for identifying and securing land for their projects. The tender specifies a minimum project size of 50 MW, with additional capacity increments in multiples of 10 MW. The cumulative capacity for a single developer was capped at 600 MW. For projects located in Northeastern States or other special categories, the minimum capacity a bidder could offer was reduced to 30 MW.

Developers will be responsible for  setting up the renewable energy projects, including dedicated transmission networks up to the interconnection point, at their own expense. Also, securing all necessary approvals, permits, and clearances—whether from state or local authorities—is the responsibility of the developers

It may be noted that in September 2024, Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy won NHPC’s Tranche II auction for 1,200 MW of FDRE projects.

This latest Tranche VI auction reflects NHPC’s commitment to accelerating India’s renewable energy transition.