NTPC Auctions 1,200 MW of Renewable Energy, Allocating 760 MW to ACME Solar, Hexa, and Avaada

NTPC Limited recently conducted an auction for 1,200 MW of firm and dispatchable power with guaranteed peak power supply from interstate transmission system (ISTS)-connected renewable energy projects. The auction resulted in the awarding of 760 MW across three companies.

ACME Solar emerged as the largest bidder, securing 400 MW. Hexa Climate Solutions was awarded 300 MW, while Avaada Energy won 60 MW. Two companies bid the same tariff, ₹4.70 per kWh, except for Hexa Climate Solutions, which secured the lowest tariff of ₹4.69 per kWh for its 300 MW.

Despite the original tender for 1,200 MW, only 760 MW was auctioned. The projects will be developed on a build-own-operate basis, with a minimum project size of 50 MW, and subsequent increments in multiples of 10 MW. The maximum capacity to be allotted to a single bidder was capped at 600 MW.

Energy storage systems are mandatory for these projects to ensure power availability of at least 90% during peak hours of the contracted capacity. The minimum declared capacity utilization factor (CUF) required for the projects is 40%. This auction reflects strong competition among companies, with similar pricing expectations and a clear focus on reliable renewable energy supply.