Mytrah Energy Wins 300MW Out of NTPC’s 1200MW Auction

Mytrah Energy quoted a tariff of Rs. 2.79 per unit under the reverse e-Auction and won the bid for a capacity of 300 MW in the first Inter-State Transmission System (ISTS) wind bids conducted by NTPC.

Leading renewable power producer, Mytrah Energy has won NTPC tender of 300 MW wind power out of 1200 MW auctioned by state-run organization.  

Mytrah quoted a tariff of Rs. 2.79 per unit under the reverse e-Auction and won the bid for a capacity of 300 MW in the first Inter-State Transmission System (ISTS) wind bids conducted by NTPC.

VC & MD, Mytrah Energy, Vikram Kailas said, “This project is one more milestone in our continuing journey to achieve a robust, well-diversified power generation footprint in the Indian renewable power generation sector. It also proves that Mytrah is well positioned to add to its portfolio of assets at competitive tariffs that provide meaningful returns to all its stakeholders.”

A total of seven companies participated in the reverse auction, collectively submitting bids for a cumulative capacity of 1750 MW.

Other winners are Srijan Energy Systems with 50 MW at Rs. 2.80, Fasten Power with 50 MW (out of 300 MW) at Rs. 2.83, Sprng Vayu Vidyut with 200 MW of capacity at Rs. 2.77. ReNew Wind Energy has bid at Rs. 2.81 and Hero Wind Energy at Rs. 2.82 won 300 MW respectively.

The original capacity for the auction was 2000MW of wind power supply, which was subsequently reduced to 1200MW.

The letter of agreement will be issued by NTPC by mid-September 2018, followed by the signing of a power purchase agreement. The project shall be commissioned within 18 months from the signing date of the agreement.