NTPC REL, ACME and Blupine Energy Win PFC’s 1.25 GW Solar Auction

The winning bidders will have to sign a 25-year PPA with NTPC


NTPC Renewable Energy (NTPC REL), ACME Cleantech Solutions, and Solarcraft Power India 12 (Blupine Energy) won PFC Consulting’s auction to develop 1,250 MW of interstate transmission system (ISTS) connected solar power projects anywhere in India.

NTPC REL and ACME quoted the lowest tariff at ₹2.53 (~$0.0304)/kWh to win 900 MW and 300 MW capacity, respectively. Solarcraft Power India 12 won 50 MW under the bucket-filling method by quoting ₹2.54 (~$0.0305)/kWh.

The projects will be developed on a build-own-operate basis under the program for flexibility in generating and scheduling thermal-hydropower by bundling with renewable energy and storage.

The other participants who qualified but did not win any capacities were ReNew Solar Power and Avaada Energy, who quoted ₹2.55 (~$0.0306)/kWh and ₹2.58 (~$0.0310)/kWh, respectively, for 300 MW capacity.

PFC Consulting 1.25 GW Solar Auction Table

PFC Consulting floated the tender for the project in September 2023.

The selected bidders will have to enter into a 25-year power purchase agreement (PPA) with NTPC. Power procured from these projects has been provisioned to replace thermal power through existing PPAs of NTPC with various distribution companies.

The selected bidders will have to set up transmission systems for the projects.

They are required to use only the modules from the Approved List of Models and Manufacturers list notified by the Ministry of New and Renewable Energy. The projects must be commissioned within 18 months of the PPA coming into force.

The solar project developers must maintain an annual capacity utilization factor of a minimum of 22%.

In a recently concluded auction by Solar Energy Corporation of India for 1 GW ISTS-connected solar power projects Tranche XII, Blupine Energy won 150 MW capacity by quoting ₹2.53 (~$0.0304)/kWh.

Earlier this month, REC Power Development and Consultancy floated a tender to set up 250 MW ISTS-connected solar power projects anywhere in India with an additional greenshoe option of 250 MW under the program for flexibility in generating and scheduling thermal or hydropower by bundling with renewable energy and storage.

In June this year, PFC Consulting invited bids to develop an interstate transmission system to evacuate 1,500 MW of power from renewable energy projects in Maharashtra’s Solapur special economic zone.

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