Hexa Climate, ACME And Avaada Energy Secure NTPC’s FDRE Tender By Chitrika Grover/ Updated On Sat, Nov 9th, 2024 Hexa Climate, ACME And Avaada Energy Secure NTPC’s FDRE Project NTPC Limited has now declared Hexa Climate Solutions, ACME Solar Holdings, and Avaada Energy as the winners of its 1,200 MW Firm and Dispatchable Renewable Energy (FDRE) auction. The tender for this project was issued in June this year, and the results were released within four months. In this tender, out of the 1.2 GW, only 760 MW was allocated. NTPC allocated a 300 MW project to Hexa Climate at a tariff of Rs. 4.69/kWh, ACME Solar received 400 MW at Rs. 4.70/kWh, while Avaada secured 60 MW out of its quoted capacity of 250 MW at Rs. 4.70/kWh under the bucket-filling method. If we go by the comparison of some of the previous FDRE tenders, the tariffs allocated for this project are higher than NHPC’s FDRE tender result, which allocated bids at the lowest rate of Rs. 4.37/kWh to Essar, Juniper, and Serentica. However, the tariff for this NTPC project went as high as Rs. 4.38/kWh. Hybrid Projects Demand More Planning: Naresh Mansukhani (CEO, Juniper Green) Also Read When compared to NTPC’s previous FDRE tender, NTPC awarded in March earlier this year, the tariff rate was on the lower side too. For its tender released in March, NTPC gave away the contract at a tariff of Rs. 4.64/kWh to ABC Cleantech (Axis Energy) for a 300 MW project. FDRE tenders are perceived to be taking a turn, with a shift toward pure solar and wind projects. In a recent investor call, the management of NTPC told investors, “Our participation is selective in the sense that we are participating in pure-play solar and wind projects. But when it comes to some structured bids like RTC and FDRE, we are evaluating the mix, the stipulations, and the guaranteed parameters. Based on the risk profile of each of these and the expected returns, we are selective in that approach.” It added, “However, it is not that we are staying away from bidding. We are just being selective because we have to look at the returns profile and the risk. We go about it very judiciously. Not solely for the purpose of adding capacity, but we are trying to calibrate the different aspects of the project before making a decision.” RRUVNL Launches Rajasthan’s First BESS Tender For 1000MWh Also Read Tags: ACME, Avaada, Hexa Climate, India, NTP, tender, Tender Results