NTPC Announces Winners of 1200 MW Hybrid Tender

NTPC Announces Winners of 1200 MW Hybrid Tender

NTPC LImited has now announced the winners of its 1200 MW solar-wind hybrid project tender. As per the details of the tender results, five companies won the tender in different capacities.

The lowest bid for the tender was quoted by Rays Power, Refex Green and SAEL Limited. These firms quoted a price of Rs 2.50/kWh. On the other hand, companies like ReNew Solar and Illuminate Hygren quoted a price of Rs 2.51/Kwh.

NTPC awarded the highest of 300 MW each to SAEL and ReNew Solar while it allocated 176 MW to Illuminate Hygren and 100 MW each to Rays Power and Refex Green. The Indian power behemoth had mandated to use these projects under the Inter-State Transmission System (ISTS) regime.

NTPC, earlier had issued this tender in June 2024 with the aim to add 1200 MW of new clean power through this hybrid project through competitive bidding. As per the plan, NTPC will sign a Power Purchase Agreement (PPA) with the successful bidders for the purchase of power for 25 years.

The tender documents said that the minimum bidding for the project would be 50 MW. The maximum quantum of project that would be allocated under the project was 600 MW. However, as per the tender results, no company got the largest block from the tender.

NTPC had said that these projects could be developed anywhere in India. The onus on the land parcel was on the solar project developers. This comes at a time when the NTPC Group is trying to boost its renewable production. The last report from the group had indicated that renewable energy accounted for only 4 percent of its total turnover.

The green arm of the NTPC Group-NTPC Green has now also planned to launch its Initial Public Offering (IPO) and enter into the stock market. In the last investors call, NTPC’s top management had said that with its 76 GW of capacity, it is fueling India’s 24% of power demand. The group has now also ventured into pumped hydro projects through its subsidiaries. The company has a target of achieving 60 GW of renewable energy capacity by 2032.