Axis Energy, Juniper, ACME and ReNew Win NTPC’s 1.5 GW Wind-Solar Auction

Axis Energy quoted the lowest tariff of ₹3.27 /kWh to win 750 MW


ABC Cleantech (Axis Energy), Juniper Green Energy, ACME Cleantech Solutions, and ReNew Solar Power (ReNew) were declared winners in NTPC’s auction for the supply of 1.5 GW of power from inter-state transmission system (ISTS) connected wind-solar hybrid power projects anywhere in India under Tranche IV.

The projects are to be developed with or without the associated energy storage system.

ABC Cleantech quoted the lowest tariff of ₹3.27 (~$0.0395)/kWh to win the highest awarded capacity of 750 MW.

Juniper quoted ₹3.29 (~$0.0397)/kWh to win 300 MW, and ACME won 150 MW at ₹3.32 (~$0.0401)/kWh.

ReNew was awarded 300 MW out of the 600 MW quoted capacity at a tariff of ₹3.32 (~$0.0401)/kWh.

The other participants who did not qualify included Avaada Energy and TEQ Green Power XX (O2 Power).NTPC's 1500 MW Wind-Solar Hybrid Power Projects - Auction ResultNTPC had floated the tender in December 2023 for the projects to be developed on a build-own-operate basis.

The selected developers must commission the projects within 24 months of the effective date of the power purchase agreement (PPA).

The rated power capacity of one resource (wind or solar) of the project must be at least 33% of the total contracted capacity.

The project developers have the option to offer hybrid projects with or without an energy storage system. However, the energy storage system charged using a source other than wind or solar hybrid power will not qualify as hybrid power.

Projects already under construction or yet to be commissioned, without a long-term PPA with any agency, and selling hybrid power on a short-term or merchant basis will also be considered for the tender. These projects should not have been accepted under state or central programs and should not be obligated to sell the power to any other beneficiaries.

The selected developers are free to locate their hybrid projects anywhere in India on the land identified and purchased/leased by them. The solar and wind components of the projects can be located at the same or different locations.

The developers will be responsible for setting up the ISTS connectivity for the projects with a minimum voltage level of 220 kV at the interconnection point.

In February 2024, NTPC Renewable Energy, a wholly owned subsidiary of NTPC, invited bids to select hybrid power generators for the supply of 1,000 MW power from ISTS-connected wind-solar hybrid projects anywhere in India under Tranche V.

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