NTPC Awards 976 MW of Solar Projects in Latest 1.2 GW Auction

NTPC Ltd, India’s largest energy conglomerate, has successfully allocated 976 MW out of the tendered 1.2 GW solar capacity in its latest auction, reinforcing India’s push towards renewable energy. The allocated capacity comes with an average tariff of INR 2.50 ($0.030) per kilowatt-hour (kWh), marking a significant step in bringing affordable solar power to the nation.

Key Bidders and Lowest Tariffs in Solar Auction

SAEL Industries emerged as the biggest winner in this auction, securing 300 MW by submitting the lowest bid at INR 2.50/kWh. Refex Green and Rays Power Infra also bagged 100 MW each at the same tariff rate, INR 2.50/kWh. Meanwhile, ReNew Solar was allocated 300 MW, and Illuminate Hybren/Mahindra Susten secured 176 MW, both at slightly higher prices of INR 2.51/kWh.

NTPC to Sign 25-Year PPA with Developers

NTPC is set to sign 25-year power purchase agreements (PPAs) with all the winning developers. These long-term contracts ensure stability and promote investment in India's renewable energy sector. The solar projects can be established anywhere in India, provided they connect to the interstate transmission system, supporting the expansion of a unified green energy grid.