ACME, Solalite Power, Sprng Energy, Juniper Green, And Avaada Secure Victories In NTPC’s 1500 MW Wind-Solar Hybrid Power Projects Auction

In a significant development for India’s renewable energy landscape, the NTPC Ltd. recently completed a highly competitive bidding process for the procurement of Wind-Solar Hybrid power under Tranche-1 (ISTS), open for development anywhere across the country. The tender, with a capacity of 1,500 MW, reached its climax in a reverse auction conducted on December 27, 2023.

A pivotal metric in determining the competitiveness of bids, the opening of the L1 tariff, commenced impressively at ₹3.35 per kilowatt-hour (kWh). This marked the starting point for a reverse auction, wherein participating companies vied to present the most attractive tariff for the available solar power capacity.

Several esteemed companies engaged in the bidding, each disclosing their bid capacity in megawatts (MW) along with the final tariff proposed. Solalite Power Private Limited emerged as a frontrunner, securing the entire bid capacity of 300 MW at the opening L1 tariff of 3.35 ₹/kWh. Sprng Energy Private Limited secured 250 MW at a slightly higher tariff of 3.35 ₹/kWh, and ACME Cleantech Solutions Private Limited was awarded 300 MW at a tariff of 3.36 ₹/kWh.

Juniper Green Energy Private Limited secured a bid capacity of 230 MW, aligning with the tariff of 3.36 ₹/kWh. Finally, Avaada Energy Private Limited secured 24 MW out of their bid capacity of 300 MW at a tariff of 3.37 ₹/kWh. The total tendered capacity of 1,500 MW in July 2023 for Wind-Solar Hybrid Power projects showcased the strong interest and participation of industry players.

These results underscore a fiercely competitive landscape in the Wind-Solar Hybrid power sector, with companies striving to offer economically viable tariffs. The allocation of capacities and associated tariffs reflects a meticulous evaluation process by the tendering agency, NTPC, aiming to strike a balance between cost-effectiveness and the imperative of widespread renewable energy adoption. The successful conclusion of this auction marks a substantial stride in India’s commitment to expanding its renewable energy capacity and promoting sustainable development nationwide. This achievement not only highlights the dynamism of the renewable energy market but also sets the stage for continued growth and innovation in the sector.

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