Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings have won NHPC’s Tranche VI auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) from ISTS-connected renewable power projects with an energy storage system and a greenshoe option of an additional 1,200 MW.

Jevargi Solar was awarded 150 MW at a tariff of ₹4.48 (~$0.0528)/kWh. Juniper and Avaada were awarded 200 MW and 600 MW at a tariff of ₹4.56 (~$0.0538)/kWh.

ACME won 250 MW out of the quoted capacity of 600 MW at a tariff of ₹4.56 (~$0.0538)/kWh under the bucket-filling method.

The tender was floated in June this year.

NHPC will sign Power Purchase Agreements (PPA) with the selected bidders for 25 years, starting from the scheduled commissioning date of the projects. It will purchase the generated renewable power and sell it to state utilities or other beneficiaries.

Developers are responsible for identifying and securing the land for their projects. The tenders specified a minimum project size of 50 MW, with subsequent capacity increments in multiples of 10 MW. The cumulative capacity was capped at 600 MW. However, for projects located in the northeastern states and other special categories, the minimum contracted capacity that a bidder could offer was 30 MW.

If a project is transferred or sold to a third party after the initial one-year lock-in period following the commercial operation date, NHPC retains the right to enforce the PPA with the new owner, who will be fully obligated to comply with all terms and conditions of the agreement.

The developer is responsible for setting up renewable energy projects, including the dedicated transmission network up to the interconnection point, at its own expense, under the provisions outlined in the tender document. All approvals, permits, and clearances, including those from the state government and local authorities, fall under the developer’s responsibility.

Developers who have already commissioned renewable energy projects or are constructing such projects with untied capacity were eligible to participate in this bid.

In September, Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy won NHPC’s 1,200 MW Tranche II FDRE auction.

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