India allocates 3 GW of solar at average price of $0.031/kWh


From pv magazine India

NTPC has concluded its auction for 1.5 GW of solar projects, connected to India's interstate transmission system (ISTS), with an average price of $0.031/kWh.

Furies Solren (Mahindra Susten) won 300 MW by quoting the lowest tariff of INR 2.59 ($0.03)/kWh. JSW Neo Energy secured 700 MW and Avaada won 500 MW at INR 2.60/kWh each. The tender was launched in December 2023.

In a separate development, SECI also allocated 1.5 GW of ISTS-connected solar projects (tendered under Tranche XIV) at an average price of $0.031/kWh.

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SAEL Industries secured the biggest slice of 600 MW at INR 2.57. Avaada and ReNew won 300 MW each, and Solairedirect Energy (Engie) 100 MW at INR 2.57. NTPC secured 200 MW at INR 2.58, against a bid capacity of 500 MW.

Meanwhile, NTPC has started accepting bids from hybrid power generators to supply 1 GW power from ISTS-connected wind-solar hybrid power projects throughout India. The projects will be developed on a build-own-operate (BOO) basis.

In a separate tender, NTPC Green Energy has started accepting bids for the comprehensive operation and maintenance of the 225 MW Bilhaur solar project in Uttar Pradesh. The contract period is 36 months for Bilhaur-1 (140 MW) and 33.5 months for Bilhaur-2 (85 MW) from the date of the letter of award.

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