SAEL Industries, Rays Power Infra, Refex Green, ReNew Solar, Illuminate Hybren (Mahindra Susten) have won NTPC’s auction to set up 1,200 MW interstate transmission system (ISTS)-connected solar power projects.

SEAL, Rays Power, and Refex Green were awarded 300 MW, 100 MW, and 100 MW, respectively, at a tariff of ₹2.50 (~$0.0297)/kWh.

ReNew and Illuminate were awarded 300 MW and 176 MW at a tariff of ₹2.51 (~$0.0299)/kWh.

The tender was issued in June this year.

The projects must use only commercially established and operational technologies to mitigate technology risks and ensure timely commissioning.

Solar modules used in the project must be included in List-I under the Approved Models and Manufacturers of Solar Photovoltaic Modules.

In May this year, Apraava Energy, Avaada Energy, ReNew Solar Power (ReNew), and JSW Neo Energy (JSW Energy) won NTPC’s auction to set up 1.5 GW ISTS-connected solar projects (Tranche III).

Earlier, NTPC issued a tender to set up a 1.2 GW ISTS-connected to solar power projects. The agency also invited bids from developers to supply 1.2 GW of firm and dispatchable power (assured peak power supply) from ISTS-connected renewable energy projects in a built-own-operate arrangement.

Government-owned renewable energy agencies floated 10.7 GW of tenders in the second quarter (Q2) of 2024, down 65.2% from 30.7 GW in the previous quarter and 21.6% from 13.6 GW in the same quarter last year, according to Mercom India Research.

The Renewable Energy Implementing Agencies designated by the Ministry of New and Renewable Energy, including NTPC, issued 35.51 GW of project tenders until December 2023, against the 50 GW target for the financial year 2023-24. According to Mercom’s India Solar Tender Tracker, NTPC accounted for ~42% of the total capacity tendered during the period.

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