Solalite Power & ACME Take Home Highest Capacity in NTPC 1500 MW Wind-Solar Tender

Solalite Power Takes Home the Highest Capacity in NTPC 1500 MW Wind-Solar Tender

NTPC Ltd. has recently finalized a highly competitive bidding process for wind-solar hybrid power procurement in Tranche-1 (ISTS), open for development anywhere in the country. The tender, boasting a capacity of 1,500 MW, culminated in a reverse auction held on December 27, 2023.

The initial L1 tariff was set low at INR 3.35 per kilowatt-hour (kWh). This served as the starting point for a reverse auction, with participating companies vying to offer the most appealing tariff for the available solar power capacity.

Solalite Power Private Limited emerged as a frontrunner, securing the entire bid capacity of 300 MW at the opening L1 tariff of INR 3.35/kWh. Following closely, Sprng Energy Private Limited secured 250 MW at a slightly higher tariff of INR 3.35/kWh, while ACME Cleantech Solutions Private Limited was awarded 300 MW at a tariff of INR 3.36/kWh.

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Juniper Green Energy Private Limited secured a bid capacity of 230 MW, aligning with the tariff of INR 3.36 kWh. Finally, Avaada Energy Private Limited obtained 24 MW out of their bid capacity of 300 MW at a tariff of INR 3.37/kWh. The total tendered capacity of 1,500 MW in July 2023 for wind-solar hybrid power projects demonstrated substantial interest and participation from industry players.

These outcomes underscore the intense competitiveness within the wind-solar hybrid power sector, as companies strive to offer economically feasible tariffs. The allocation of capacities and associated tariffs reflects a thorough evaluation process by the tendering agency, NTPC, aimed at balancing cost-effectiveness and the imperative of widespread adoption of renewable energy.

Wind-solar hybrid projects have gathered steam in India with many tenders being issued on them. Those released recently include SECI’s 2000 MW wind-solar tender, RUMSL’s 750 MW tender.