Axis, ReNew, Juniper, Serentica, TPREL Win NTPC’s 3 GW FDRE-II Auction

The total 1,584 auctioned capacity was won by eight bidders


ABC Cleantech (Axis Energy), Juniper Green Energy, Serentica Renewables India 11 (Serentica Renewables), Tata Power Renewable Energy, and ReNew Solar Power (ReNew) won significant capacities in NTPC’s auction to supply 3 GW of firm and dispatchable renewable energy (FDRE) from inter-state transmission (ISTS)-connected projects anywhere in India under FDRE Tranche II.

The other winners were Hero Solar Energy (Hero Future Energies), BN Dispatchable-1 (BrightNight Power), and ACME Cleantech Solutions.

ABC Cleantech quoted the lowest tariff of ₹4.64 (~$0.0555)/kWh to win 300 MW, whereas Juniper and HFE quoted ₹4.69 (~$0.0561)/kWh to win 200 MW and 120 MW respectively. Serentica and Tata Power won 200 MW each by quoting ₹4.71 (~$0.0564)/kWh.

BN Dispatchable 1 and ReNew quoted ₹4.72 (~$0.0565)/kWh to win 110 and 400 MW, respectively. ACME won 54 MW out of the 250 MW quoted capacity at ₹4.73 (~$0.0566)/kWh.

The participants who did not qualify are TEQ Green Power XIV (O2 Power) and Solarcraft Power India 13 (BluPine Energy), who quoted ₹4.82 (~$0.0576)/kWh and ₹5.25 (~$0.0627)/kWh.

Only 1,584 MW out of the total 3 GW was auctioned. The aggregate bids received were for only 1,980 MW. The auction capacity was reduced accordingly to 1,584 MW using the following calculation – aggregate bid capacity x 0.8.

NTPC FDRE-II Auction Result table

NTPC had floated the tender for the projects in October 2023.

The projects will be developed on a build-own-operate basis.

The lowest tariff discovered in this auction is ~17% less than the tariff discovered in the most recent FDRE auction conducted by the Solar Energy Corporation of India (SECI) and ~2% higher than the tariff discovered in the FDRE auction conducted by NHPC.

SECI’s auction to supply 1.5 GW FDRE from ISTS-connected projects under Tranche II discovered the lowest tariff of ₹5.59 (~$0.0668)/kWh.

NHPC’s auction to supply 1.5 GW of FDRE (Peak Power Supply) from ISTS-connected projects coupled with energy storage systems recorded the lowest tariff of ₹4.55 (~$0.0543)/kWh.

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