NTPC’s 1500 MW ISTS Wind-Solar Hybrid Auction: ABC Cleantech, Juniper Green Energy, ACME Cleantech and ReNew Emerge as Winners

In a significant development in India’s renewable energy sector, the National Thermal Power Corporation (NPTC) has announced the results of its latest competitive bidding process for a massive 1500 MW ISTS (Inter-State Transmission System) connected wind-solar hybrid power projects. This tender, marking a notable step towards India’s green energy aspirations, took place on March 13, 2024, through a reverse auction mechanism.

The reverse auction concluded with an opening L1 tariff of INR 3.27 per kWh, showcasing competitive pricing in the renewable energy domain. The tender attracted bids from notable clean energy companies, underlining the industry’s robust interest in developing renewable infrastructure.

ABC Cleantech Private Limited emerged as a significant player, securing the full bid capacity of 750 MW at the winning tariff of INR 3.27 per kWh. This marks a substantial achievement for the company, demonstrating its capability and commitment to contributing to India’s renewable energy expansion.

Juniper Green Energy Private Limited also made a notable entry, awarded 300 MW of the bid capacity at a slightly higher tariff of INR 3.29 per kWh. The company’s successful bid reflects its growing footprint in the renewable energy sector and its ability to compete in tightly contested tenders.

ACME Cleantech Solutions Private Limited and ReNew Solar Power Private Limited were also among the winners, awarded 150 MW and 300 MW respectively, at a final tariff of INR 3.32 per kWh. These awards highlight the diversity and competitive nature of India’s renewable energy industry, with multiple players contributing to the country’s green energy targets.

The successful completion of this tender is a testament to the growing emphasis on hybrid renewable energy projects, which combine wind and solar power to provide a more stable and reliable energy supply. It also underscores the efficacy of the competitive bidding process, including reverse auctions, in driving down the costs of renewable energy, making it more accessible and affordable for a broader section of the Indian population.

This tender not only marks a significant step towards meeting India’s ambitious renewable energy goals but also signals the increasing maturity and competitiveness of the renewable energy market in India.