NTPC Concludes Auction for 1 GW Wind-Solar Hybrid Power Projects

NTPC has concluded an auction for 1,000 MW (1 GW) of wind-solar hybrid power projects. The auction saw robust participation, with Juniper Green Energy, JSW Neo Energy (JSW Energy), TEQ Green Power (O2 Power), Adyant Enersol (Datta Infra), and Avaada Energy emerging as the winners.

Juniper Green Energy secured 150 MW at the lowest tariff of INR 3.43 per kWh. JSW Neo Energy, TEQ Green Power, and Adyant Enersol were awarded 300 MW, 250 MW, and 70 MW, respectively, each at INR 3.45 per kWh. Avaada Energy clinched 230 MW at INR 3.46 per kWh.

The tender, issued in March 2024, required that at least 33 percent of the contracted capacity be sourced from either solar or wind resources. NTPC will sign 25-year power purchase agreements with the selected bidders. Projects without long-term power purchase agreements that are under construction or not yet commissioned were also eligible.

Bidders were allowed to include energy storage systems (ESS) in their proposals, provided the ESS is charged using hybrid wind-solar electricity. The tender permitted only wind turbines from the Ministry of New and Renewable Energy’s (MNRE) Revised List of Models and Manufacturers and solar photovoltaic modules from the Approved List of Models and Manufacturers.

In recent developments, NTPC has invited proposals for a 20 MW ground-mounted solar project in the MGR Bulb region of NTPC Vindhyachal in Madhya Pradesh. Additionally, NTPC Renewable Energy, a subsidiary of NTPC, has issued a tender for an engineering, procurement, and construction package to develop solar projects at Gujarat’s Khavda RE Power Park, with a combined capacity of 795 MW.

India is making strides towards its goal of achieving 500 GW of renewable energy by 2030 and potentially 1 TW by 2035. As of May 2024, the nation has reached an installed renewable energy capacity of 191 GW, including 85 GW of solar power. This growth is bolstered by government programs such as the PM Surya Ghar Scheme and the National Solar Mission, which offer subsidies ranging from INR 30,000 to INR 78,000 based on electricity usage levels.

Other government initiatives include the National Green Hydrogen Mission and the Solar PV Module PLI Scheme. Furthermore, India aims to complete 40,000 MW of Grid Connected Rooftop Solar (RTS) projects by March 31, 2026. Component A of this plan will provide 4 GW of central financial assistance (CFA) to the residential sector, while Component B will offer incentives to DISCOMs for the initial 18 GW capacity.