Sprng Energy, Avaada Energy Among Winners of NTPC's 1000 MW Wind-Solar Hybrid Projects
NTPC had previously issued a tender for the selection of hybrid power generators to supply 1000 MW of power through ISTS-connected wind-solar hybrid projects.
April 18, 2024. By Abha Rustagi
NTPC had previously issued a tender for the selection of hybrid power generators to supply 1000 MW of power through ISTS-connected wind-solar hybrid projects.
Sprng Energy, AMPIN Energy Transition, and Juniper Green Energy each secured 150 MW at tariffs of INR 3.41, INR 3.42, and INR 3.43 per kWh respectively. ReNew Energy emerged as the largest single winner with 300 MW at a tariff bid of INR 3.44 per kWh.
Avaada Energy secured a significant 250 MW capacity during the auction, offering a competitive tariff of INR 3.47 per kWh. The project, which can be set up anywhere in India, will be connected to the Inter-State Transmission System (ISTS) network, ensuring seamless energy delivery across regions.
This project showcases Avaada Energy's capability to operate hybrid renewable energy installations. The 250 MW capacity aligns perfectly with the company's expansion strategy and its mission to support India’s transition to a low-carbon economy.
Post finalization, the forthcoming Power Purchase Agreement (PPA) with NTPC will span a period of 25 years, with completion targeted within 24 months. Upon commissioning, the hybrid solar-wind power project is expected to generate approximately 800 million units of renewable energy annually, significantly contributing to India's green energy supply and powering more than 500,000 households.
Commenting on the project win, Vineet Mittal, Chairperson of Avaada Group, said, “We are happy to further cement our position as a leader in the renewable energy sector with this 250 MW win in NTPC’s prestigious tender. This project not only reflects our competitive edge in hybrid energy solutions but also our unwavering commitment to India’s energy sustainability goals. With a tariff of INR 3.47 per kWh, we are setting benchmarks in the affordability and accessibility of clean energy.”
This initiative is projected to play an important role in reducing carbon emissions, with an expected annual CO2 reduction of approximately 747,200 tonnes.
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