NHPC Discovers Lowest Tariff Of Rs. 4.37 For 1.2 GW FDRE Project

NHPC Discovers Lowest Tariff Of Rs. 4.37 For 1.2 GW FDRE Project

NHPC has announced the winners of the 1.2 GW solar project under Tranche II. It allocated the project to five successful bidders: Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy.

According to the tender results, NHPC allocated Essar, Juniper, and Serentica 300 MW, 200 MW, and 150 MW of capacities respectively. These green companies won these projects with their quoted tariff of Rs. 4.37 per kWh tariff. Hexa won the 80 MW project at the same tariff, while Avaada secured 470 MW at a quoted tariff of Rs. 4.38 per kWh.

The successful bidders are expected to set up Inter-State Transmission System (ISTS-connected) renewable energy projects to supply 1.2 GW of firm and dispatchable renewable energy. They will supply power from ISTS-connected projects, coupled with energy storage systems in India, on a Build-Own-Operate (BOO) basis.

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NHPC will enter into a Power Purchase Agreement (PPA) with the successful bidders selected based on this RfS, for the purchase of power for 25 years. This agreement will adhere to the terms, conditions, and provisions of the RfS document and the standard Power Purchase Agreement, which can be downloaded from the CPP portal.

The bidders will be free to avail fiscal incentives such as accelerated depreciation, concessional customs and excise duties, and tax holidays, as available for such projects.

If the project is transferred or sold to a third party during its tenure (after the initial lock-in period of One year after the “Commercial Operation Date and Schedule Commencement of Supply Date” (SCSD)), NHPC will retain full rights to operationalize the PPA with the third party, which will be under full obligation to honor all the obligations and terms & conditions of the PPA.

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The successful bidder is expected to develop the renewable energy (RE) power project(s), including the dedicated transmission network up to the Interconnection/Delivery Point at its own cost. The Projects to be selected under this RfS for an aggregate capacity of 1200 MW to be installed anywhere  in  India,  provide for deployment of  RE  Power.