NTPC 1.2 GW Solar Project Results- 6 Winners Announced

NTPC has announced six winners for its 1.2 GW solar project tender with a greenshoe option. The winners are Bharat Petroleum Corporation Limited (BPCL), Onward Solar Power, ReNew Solar Power, Illuminate Hybren, Adyant Enersol, and DineshChandra R Aggarwal. Collectively, these projects amount to 1,020 MW, with an additional greenshoe option of 600 MW.

According to the tender results, for the total 916 MW awarded, the lowest tariff was secured by Bharat Petroleum Corporation, which won 150 MW at ₹2.55/unit. Onward Solar Power received 50 MW at a tariff of ₹2.59/unit. ReNew Solar Power, Illuminate Hybren (a Mumbai-based subsidiary of Mahindra Susten), and Adyant Enersol Pvt Ltd (a subsidiary of Datta Infra) were allocated 300 MW, 120 MW, and 100 MW, respectively, at ₹2.60/unit. Meanwhile, Dinesh Chandra R Aggarwal Infracon received a 96 MW project at a quoted tariff of ₹2.70/unit.

The appearance of Bharat Petroleum marks a first major win for the PSU Oil major in renewable energy.

Previous Tenders: A Brief Comparison

Earlier this year, Indian power giant NTPC awarded contracts to four developers for its 1,500 MW solar project. The winners were Apraava Energy, Avaada Energy, ReNew Solar Power, and JSW Neo Energy. These developers were allocated a total of 1,050 MW interstate transmission system (ISTS)–connected solar power projects (Tranche III) across India.

The latest tender results have come in at a lower cost than NTPC’s erstwhile 1.2 GW tender which awarded the 50 MW project to Apraava at the lowest tariff of ₹2.68. Other winners for the project were Avaada and ReNew which were awarded 750 MW and 300 MW respectively at the rate of ₹2.69/kWh. JSW Energy bagged 400 MW out of the 700 MW capacity at a tariff of ₹2.69/kWh.

This tender result also beats NTPC’s previous 1.5 GW solar tender which declared Mahindra Susten Private Limited one of the winners for its 1.5 GW project The IPP firm quoted the lowest tariff of Rs 2.59/kWh. Owing to the lowest bid it quoted in the tender, the renewable energy firm was given a share of 300 MW of solar projects.