NTPC Solar PV 1,200 MW Auction: BPCL, ReNew, Mahindra Susten Among Winners With Tariffs As Low As ₹2.55/kWh

NTPC recently set a benchmark in its tender for 1,200 MW solar PV projects connected to the interstate transmission system (ISTS). The auction resulted in a discovered tariff of ₹2.55/kWh. A total quoted capacity of 816 MW was achieved, with six companies emerging as winners out of the 1,200 MW available. The successful bids ranged between ₹2.55 and ₹2.70 per kWh.

Bharat Petroleum Corporation Limited (BPCL) secured 150 MW at the lowest tariff of ₹2.55/kWh. Onward Solar Power won 50 MW with a tariff of ₹2.59/kWh. Three companies quoted ₹2.60/kWh, including ReNew Solar Power, Illuminate Hybren (Mahindra Susten), and ADYANT ENERSOL (Datta Power), with allocations of 300 MW, 120 MW, and 100 MW, respectively. Dineshchandra R. Agarawal Infracon submitted the highest tariff of ₹2.70 per unit, securing 96 MW instead of their quoted 300 MW. This allocation is under observation due to the higher tariff compared to the lowest bid.

ReNew Solar Power emerged as the largest winner, securing the maximum capacity of 300 MW at ₹2.60/kWh. The auction successfully allocated a total of 816 MW, with participation from six companies. This tender floated in August 2024, highlights competitive pricing trends in the solar energy sector.