SAEL, ReNew Solar, Illuminate Hygren, Rays Power Infra, And Refex Green Wins NTPC Auction For 1,200 MW Of ISTS Solar Power Projects

SAEL Industries, ReNew Solar, Illuminate Hygren, Rays Power Infra, and Refex Green have emerged victorious in NTPC’s recent auction for a total of 1,200 MW of solar power projects. This auction is part of a long-term agreement aimed at developing Inter-State Transmission System (ISTS)-connected solar power projects throughout India.

In the bidding process, three companies submitted bids with a competitive tariff of ₹2.5 per kilowatt-hour (kWh). ReNew Solar and Illuminate Hygren won contracts at a slightly higher tariff of ₹2.51 per unit. Specifically, ReNew Solar secured 300 MW, while Illuminate Hygren obtained 176 MW at the same tariff.

SAEL Industries also succeeded in winning 300 MW, while both Refex Green and Rays Power Infra each secured 100 MW contracts at a tariff of ₹2.5 per unit. This auction highlights the growing interest in solar energy and the competitive pricing strategies being adopted by various companies in the renewable energy sector.

Looking ahead, NTPC Limited has announced plans to invite bids in June 2024 for the selection of additional solar power generators. This initiative aims to set up another 1,200 MW of ISTS-connected solar power projects across India, further contributing to the country’s transition to clean energy sources and enhancing its solar capacity.