NTPC Crowns Winners in 1.5 GW Solar Project Race

NTPC Limited has unveiled the results of its highly anticipated auction to develop 1,500 MW of inter-state transmission system (ISTS) connected solar power projects, tranche III, after issuing the tender in February 2024. Spanning across India, these projects represent a significant stride towards bolstering the nation's renewable energy capacity.

Apraava Energy emerged victorious by clinching 50 MW with the lowest tariff bid of Rs 2.68 per kWh, setting a new benchmark for competitive pricing in the industry. Other notable winners include Avaada Energy securing 750 MW, JSW Energy bagging 400 MW, and ReNew acquiring 300 MW, all quoting a tariff of Rs 2.69 per kWh.

This announcement underscores the increasing competitiveness and attractiveness of solar energy in India's energy landscape, with leading players vying for a share in the burgeoning renewable energy market. The successful bids reflect a growing confidence in the sector's potential for sustained growth and profitability.

In a parallel development, NTPC Renewable Energy Limited recently issued a tender for the engineering, procurement, and construction (EPC) package for 225 MW grid-connected solar projects. These projects are slated to be developed in the renewable energy park at Khavda under Stage 3, further cementing NTPC's commitment to expanding its renewable energy portfolio and promoting sustainable development initiatives.

As India continues its transition towards cleaner and greener energy sources, initiatives such as these underscore the pivotal role of solar power in achieving the nation's ambitious renewable energy targets and addressing climate change concerns on a global scale.

News by Rahul Yelligetti