NTPC Invites Bids for 1 GW Wind-Solar Hybrid Power Under Tranche XI

The last date to submit bids is April 16, 2024


NTPC has invited bids for the supply of power from 1 GW of onshore wind-solar hybrid power projects anywhere in India for 25 years. The projects will be developed on a build-own-operate basis and connected to the Interstate Transmission System (ISTS) grid.

The last date for bid submission is April 16, 2024. Bids will be opened on the same day. Bidders will be selected through an online reverse auction to be conducted by NTPC at a later stage. NTPC will enter into a 25-year power purchase agreement with the selected bidders.

Bidders must bid for a minimum project size of 50 MW, with increments of 10 MW thereafter. Solar and wind projects within a hybrid project can be located in different locations, and at least 33% of the total contracted capacity must be from either wind or solar. The maximum capacity allotted to a single bidder will be 500 MW.

The option to include energy storage systems (ESS) is left to the bidder, but the ESS must be charged using wind-solar hybrid power to qualify.

Projects already under construction or not yet commissioned with no long-term power purchase agreements (PPA), can also be considered. Bidders may also offer partial capacity of a project as long as the offered capacity is at least 50 MW.

The tender has been issued under international competitive bidding and is the sixth tranche of NTPC’s tender series for procuring hybrid renewable power.

Only wind turbines from the Ministry of New and Renewable Energy’s (MNRE) Revised List of Models and Manufacturers will be permitted under the tender.

Bidders must furnish an earnest money deposit of ₹1.16 million (~$14,000) per MW and a performance bank guarantee of ₹2.9 million per MW before signing the PPA. As of the previous financial year, their net worth should be a minimum of ₹11.46 million (~$137,000) per MW. To demonstrate liquidity, they must show a minimum annual turnover of ₹6.15 million per MW during the last financial year.

Alternatively, their Profit Before Depreciation, Interest, and Taxes (PBDIT) must be a minimum of ₹1.23 million (~$14,700) per MW or an in-principle sanction letter from the bank of the bidder committing a line of credit for ₹1.54 million (~$18,500) per MW of quoted capacity.

Bidders from countries with a land border with India must be registered with the competent authority to bid. However, this registration requirement does not apply to countries with whom India has extended lines of credit or is involved in development projects.

NTPC Renewable Energy, a subsidiary of NTPC, recently invited bids for the land and power evacuation package to set up a 150 MW grid-connected solar photovoltaic power project in Bhadla, Rajasthan.

NTPC also invited bids for retrofitting a solar inverter for the 5 MW solar photovoltaic power project at its Dadri thermal power plant in Uttar Pradesh.

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