NHPC Solar-BESS Auction: NTPC REL, Renew Solar, Adani, ONIX, Jindal, And Kolar Secure 1,200 MW At Competitive Tariffs

The NHPC concluded an auction for 1,200 MW of solar PV projects with a 600 MW/1,200 MWh Battery Energy Storage System. The auction set a benchmark with a discovered tariff of ₹3.09 per kWh, reflecting the competitiveness of India’s solar energy market. Tariffs ranged between ₹3.09 and ₹3.10 per kWh. Six companies won the tender for a combined capacity of 1,200 MW. Four companies quoted ₹3.09 per kWh, while ReNew Solar and Adani Renewable Energy Holding quoted ₹3.10 per kWh.

ONIX Renewable secured 100 MW at ₹3.09 per kWh, demonstrating its capability to offer highly competitive rates. NTPC REL and ReNew Solar bid for the highest capacities, each securing 300 MW, with NTPC REL quoting ₹3.09 per kWh and ReNew Solar at ₹3.10 per kWh. Jindal India Renewable Energy obtained 180 MW at ₹3.09 per kWh, while Kolar Solar Power won 150 MW at the same rate. In total, four companies bid for 730 MW at ₹3.09 per kWh, and the remaining 470 MW was secured by two companies at ₹3.10 per kWh.

The tender was floated by NHPC Limited in September 2024 for the selection of Solar Power Generators to develop grid-connected solar PV power projects with an energy storage system. The tender offered an additional capacity option of up to 1,200 MW under the “Greenshoe Option.” This initiative aims to enhance renewable energy production in India by encouraging investments in solar and energy storage systems, providing stable and dispatchable power to state utilities.