NHPC 1.2 GW Solar Bid Garners A Tariff Of Rs 2.56/unit

NHPC Limited recently concluded the auctions for its 1.2 GW solar tender, announcing six winners for the project. These winners are Onward Solar, Rays Power Infra Limited, Essar Renewables, Mahindra Susten, and Avaada Group.

The allocated capacities are as follows: Onward Solar was allocated 50 MW at Rs. 2.56 per unit, while Jevargi Solar (Rays Infra) was awarded 200 MW at the same tariff rate of Rs. 2.56. Essar Renewables and Mahindra Susten were allocated 300 MW each, with tariff rates of Rs. 2.56 and Rs. 2.57 respectively. Finally, Avaada Group was allocated 350 MW at a tariff rate of Rs. 2.57.

The tender initially mentioned an aggregate capacity of 1.2 GW, with an additional capacity of up to 1,200 MW through a Greenshoe Option, to be installed anywhere in India, facilitating the deployment of Solar PV Technology.

The Solar PV Power Project (SPG) is expected to build a dedicated transmission network up to the Interconnection/Delivery Point at its own cost, following the provisions of this tender document.

The bidder is also expected to obtain all necessary approvals, permits, and clearances required for the setup of the Project(s) and/or dedicated transmission network up to the Interconnection/Delivery Point (including connectivity), including those from the State Government and local bodies, which will be within the scope of the SPG.

The selected project’s developers, with an aggregate capacity of 1,200 MW and an additional capacity of up to 1,200 MW through the Greenshoe Option, will be allowed to deploy Solar PV Technology anywhere in India. However, project selection will be technology agnostic within the specified technologies. The project is expected to use, crystalline silicon, thin film, or CPV technologies, with or without trackers. The bidder is expected to use only commercially established and operational technologies to minimize technology risk and to timely commission the project.