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<p>O2 Power, Azure Power, Tata Power, and Amp Energy have together won 1,170 MW of projects in <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener noreferrer">NTPC Limited’s</a> auction for 1.2 GW of the interstate transmission system (ISTS) connected solar projects.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-20576" src="https://mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png" alt="NTPC 1.2 GW ISTS BOO-6 Solar Tender_Auction Results" width="533" height="215" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png 533w, https://cms.mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1-300x121.png 300w" sizes="(max-width: 533px) 100vw, 533px" /></a></p>
<p>According to Mercom’s sources, O2 Power, Azure Power, and Tata Power were awarded 400 MW, 300 MW, and 370 MW of projects, respectively, at a tariff of ₹2.43 (~$0.0325)/kWh. Amp Energy secured 100 MW of projects at ₹2.44 (~$0.0327)/kWh. ReNew Power also placed bids for 300 MW of projects but was not awarded any capacity.</p>
<p>Mercom earlier <a href="https://mercomindia.com/ntpc-solar-tender-response-oversubscribed/" target="_blank" rel="noopener noreferrer">reported</a> that the tender was oversubscribed, but due to some bids not making it through the technical qualifications, only 80% of the received bids were auctioned by NTPC.</p>
<p><strong>Background: </strong></p>
<p>In February 2020, NTPC <a href="https://mercomindia.com/ntpc-notice-inviting-tender-solar-projects/" target="_blank" rel="noopener noreferrer">floated</a> an invitation for bids for the selection of solar power developers to set up 1.2 GW of ISTS-connected solar projects. The tender was announced with a ceiling tariff set at ₹2.78 (~$0.037)/kWh.</p>
<p>In June, NTPC <a href="https://mercomindia.com/ntpc-extends-bidding-deadline-solar-projects/" target="_blank" rel="noopener noreferrer">extended</a> the bid submission deadline to July 15, 2020, from the earlier deadline of May 28, 2020. In April, the company had <a href="https://mercomindia.com/ntpc-extends-bid-submission-deadline/" target="_blank" rel="noopener noreferrer">extended</a> the deadline to May 28, 2020, from May 12, 2020, previously.</p>
<p>According to the tender documents issued earlier, the minimum capacity that a bidder could develop was 50 MW and in multiples of 10 MW from there, up to a maximum quotable capacity of 600 MW. Bidders were allowed to develop projects at multiple locations as long as each project was at least 50 MW.</p>
<p>However, bidders could only quote a single tariff for the entire capacity. The developer would be required to achieve financial closure for the project within 12 months from the effective date of PPA. The tender also stated that the capacity utilization factor (CUF) of the solar projects selected must not be less than 19%.</p>
<p>Earlier, Mercom <a href="https://mercomindia.com/ists-solar-projects-ntpc-canceled/" target="_blank" rel="noopener noreferrer">reported</a> that 1.4 GWs of solar projects that were awarded for NTPC’s 2 GW solar tender were canceled due to regulatory delays.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">India Solar Tracker</a>, NTPC has 875 MW of large-scale solar projects in operation, with about 2.3 GW of capacity currently under development.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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Amp Energy, Tata, Azure, and O2 Power Winners in NTPC’s 1.2 GW Solar Auction

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