The Central Electricity Regulatory Commission (CERC) has approved tariffs ranging from ₹3.28 (~$0.038) to ₹3.29 (~$0.038)/kWh for NTPC’s 1,170 MW of wind-solar hybrid power projects.

The Commission also approved a margin of ₹0.07 (~$0.0008)/kWh conditionally.

Background

NTPC had invited bids to develop 1,200 MW of wind-solar hybrid power projects in June 2024.

Letters of Award were subsequently issued to four bidders on November 25, 2024, for 1,170 MW. The successful bidders included Green Prairie Energy III, Adyant Enersol, Sembcorp Green Infra, and Adani Renewable Energy Holding Twelve.

Green Prairie Energy III and Adyant Enersol quoted a tariff of ₹3.28 (~$0.038)/kWh and won a capacity of 200 MW and 70 MW, respectively. Sembcorp Green and Adani Renewable Energy quoted a tariff of ₹3.29 (~$0.039)/kWh and won a capacity of 300 MW and 600 MW, respectively.

NTPC filed a petition with the CERC seeking approval for the tariff adoption of the awarded capacity. It also requested condonation for the delay in filing the petition, attributing it to post-bid evaluation and approval procedures.

None of the selected bidders opposed the petition during the hearings.

Commission’s Analysis

CERC approved the requested tariffs, noting that NTPC’s bidding process was transparent and adhered to government guidelines and regulatory norms.

It held that the tariff adoption would be subject to the signing of power purchase and power sale agreements by NTPC with the respective developers and distribution licensees.

The Commission also approved a margin of ₹0.07 (~$0.0008)/kWh only in cases where NTPC provides payment security mechanisms such as escrow accounts or letters of credit. The trading margin will be capped at ₹0.02 (~$0.0002)/kWh if these directions are not met.

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