ABC Cleantech (Axis Energy), Juniper Green Energy, Serentica Renewables India 11 (Serentica Renewables), Tata Power Renewable Energy, and ReNew Solar Power (ReNew) won significant capacities in NTPC’s auction to supply 3 GW of firm and dispatchable renewable energy (FDRE) from inter-state transmission (ISTS)-connected projects anywhere in India under FDRE Tranche II.

The other winners were Hero Solar Energy (Hero Future Energies), BN Dispatchable-1 (BrightNight Power), and ACME Cleantech Solutions.

ABC Cleantech quoted the lowest tariff of ₹4.64 (~$0.0555)/kWh to win 300 MW, whereas Juniper and HFE quoted ₹4.69 (~$0.0561)/kWh to win 200 MW and 120 MW respectively. Serentica and Tata Power won 200 MW each by quoting ₹4.71 (~$0.0564)/kWh.

BN Dispatchable 1 and ReNew quoted ₹4.72 (~$0.0565)/kWh to win 110 and 400 MW, respectively. ACME won 54 MW out of the 250 MW quoted capacity at ₹4.73 (~$0.0566)/kWh.

The participants who did not qualify are TEQ Green Power XIV (O2 Power) and Solarcraft Power India 13 (BluPine Energy), who quoted ₹4.82 (~$0.0576)/kWh and ₹5.25 (~$0.0627)/kWh.

Only 1,584 MW out of the total 3 GW was auctioned. The aggregate bids received were for only 1,980 MW. The auction capacity was reduced accordingly to 1,584 MW using the following calculation – aggregate bid capacity x 0.8.

NTPC had floated the tender for the projects in October 2023.

The projects will be developed on a build-own-operate basis.

The lowest tariff discovered in this auction is ~17% less than the tariff discovered in the most recent FDRE auction conducted by the Solar Energy Corporation of India (SECI) and ~2% higher than the tariff discovered in the FDRE auction conducted by NHPC.

SECI’s auction to supply 1.5 GW FDRE from ISTS-connected projects under Tranche II discovered the lowest tariff of ₹5.59 (~$0.0668)/kWh.

NHPC’s auction to supply 1.5 GW of FDRE (Peak Power Supply) from ISTS-connected projects coupled with energy storage systems recorded the lowest tariff of ₹4.55 (~$0.0543)/kWh.

Subscribe to Mercom’s India Solar Tender Tracker to stay on top of real-time tender activity.