SAEL, ReNew, Illuminate, Rays Power, Refex Win NTPC’s 1.2 GW ISTS Solar Auction
SAEL Industries, ReNew Solar, Illuminate Hygren, Rays Power Infra, and Refex Green secured contracts in NTPC's auction for 1.2 GW of ISTS-connected solar projects, further driving India’s renewable energy transition with competitive tariffs as low as INR 2.5/kWh.
October 19, 2024. By EI News Network
This auction is part of NTPC’s initiative to develop Inter-State Transmission System (ISTS)-connected solar power projects across the country, further boosting India's renewable energy capacity.
The bidding process saw highly competitive pricing, with SAEL Industries, Refex Green, and Rays Power Infra securing contracts at a tariff of INR 2.5 per kilowatt-hour (kWh). ReNew Solar and Illuminate Hygren won their contracts at a slightly higher tariff of INR 2.51 per unit. SAEL Industries secured 300 MW, ReNew Solar won 300 MW, and Illuminate Hygren obtained 176 MW, while Refex Green and Rays Power Infra each secured 100 MW. This auction demonstrates the intense competition in the sector and reflects the industry's push toward cost-effective solar energy production.
Earlier this year in the month of June, NTPC issued this tender for an additional 1.2 GW of ISTS-connected solar power projects. This effort aligns with India’s broader strategy to achieve 500 GW of renewable energy capacity by 2030, reinforcing its commitment to sustainability and clean energy.
please contact: contact@energetica-india.net.
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix
Muthu Subramanian
MD & General Manager
From Charging to Swapping: How Yuma Energy is Changing EV Refueling