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					</table><p>ABC Cleantech (<a href="https://axisenergy.in/" target="_blank" rel="noopener">Axis Energy</a>), <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, Serentica Renewables India 11 (<a href="https://www.serenticaglobal.com/" target="_blank" rel="noopener">Serentica Renewables</a>), <a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener">Tata Power Renewable Energy</a>, and ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>) won significant capacities in <a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>’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.</p>
<p>The other winners were Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), BN Dispatchable-1 (<a href="https://brightnightpower.com/" target="_blank" rel="noopener">BrightNight Power</a>), and <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a>.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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 &#8211; aggregate bid capacity x 0.8.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-64737" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table.png" alt="NTPC FDRE-II Auction Result table" width="862" height="385" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table.png 862w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table-300x134.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table-768x343.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table-650x290.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table-624x279.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPC-FDRE-II-Auction-Result-table-600x268.png 600w" sizes="(max-width: 862px) 100vw, 862px" /></p>
<p>NTPC had floated the tender for the projects in October 2023.</p>
<p>The projects will be developed on a build-own-operate basis.</p>
<p>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.</p>
<p>SECI’s auction to supply 1.5 GW FDRE from ISTS-connected projects under Tranche II <a href="https://www.mercomindia.com/hfe-jsw-serentica-renew-win-secis-1-5-gw-fdre-auction" target="_blank" rel="noopener">discovered</a> the lowest tariff of ₹5.59 (~$0.0668)/kWh.</p>
<p>NHPC’s auction to supply 1.5 GW of FDRE (Peak Power Supply) from ISTS-connected projects coupled with energy storage systems <a href="https://www.mercomindia.com/brightnight-renew-acme-win-nhpcs-renewables-auction" target="_blank" rel="noopener">recorded</a> the lowest tariff of ₹4.55 (~$0.0543)/kWh.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


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


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					</table><p>ABC Cleantech (<a href="https://axisenergy.in/" target="_blank" rel="noopener">Axis Energy</a>), <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a>, and ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>) were declared winners in <a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>’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.</p>
<p>The projects are to be developed with or without the associated energy storage system.</p>
<p>ABC Cleantech quoted the lowest tariff of ₹3.27 (~$0.0395)/kWh to win the highest awarded capacity of 750 MW.</p>
<p>Juniper quoted ₹3.29 (~$0.0397)/kWh to win 300 MW, and ACME won 150 MW at ₹3.32 (~$0.0401)/kWh.</p>
<p>ReNew was awarded 300 MW out of the 600 MW quoted capacity at a tariff of ₹3.32 (~$0.0401)/kWh.</p>
<p>The other participants who did not qualify included Avaada Energy and TEQ Green Power XX (O2 Power).<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-64338" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result.png" alt="NTPC's 1500 MW Wind-Solar Hybrid Power Projects - Auction Result" width="1632" height="675" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result.png 1632w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-300x124.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-768x318.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-1536x635.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-650x269.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-624x258.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/NTPCs-1500-MW-Wind-Solar-Hybrid-Power-Projects-Auction-Result-600x248.png 600w" sizes="(max-width: 1632px) 100vw, 1632px" />NTPC had floated the tender in December 2023 for the projects to be developed on a build-own-operate basis.</p>
<p>The selected developers must commission the projects within 24 months of the effective date of the power purchase agreement (PPA).</p>
<p>The rated power capacity of one resource (wind or solar) of the project must be at least 33% of the total contracted capacity.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>In February 2024, NTPC Renewable Energy, a wholly owned subsidiary of NTPC, <a href="https://www.mercomindia.com/ntpcs-renewable-arm-wind-solar-hybrid-power" target="_blank" rel="noopener">invited</a> 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.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all tenders and auctions issued by various agencies in India.</p>


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


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					</table><p>Global asset management firm <a href="https://www.brookfield.com/" target="_blank" rel="noopener">Brookfield</a> and <a href="https://axisenergy.in/" target="_blank" rel="noopener">Axis Energy Ventures</a> have announced their second renewable energy joint venture partnership in India.</p>
<p>Brookfield, through its Brookfield Global Transition Fund II (BGTF II), has committed to providing equity capital of up to $845 million to develop Axis’ wind and solar energy project pipeline.</p>
<p>These projects are spread across the country and are in various stages of development.</p>
<p>Both partners will leverage their expertise and resources to jointly provide curated energy solutions to various industry participants, including government entities, corporate customers, and emerging industries such as green hydrogen.</p>
<p>Brookfield has over 16 GW of wind and solar assets in operation or in the development pipeline across India. Since 2019, Brookfield and Axis Energy Ventures have collaborated to develop over 1.8 GW of solar and wind assets through their earlier joint venture.</p>
<p>Nawal Saini, Managing Director at Brookfield, highlighted the significance of this collaboration. He emphasized that this venture aims to develop high-quality renewable power projects equipped with best-in-class capabilities.</p>
<p>He said the initiative aligns with India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030, which will be fulfilled by scaled renewable assets combining multiple technologies, such as solar, wind, and storage.</p>
<p>Kataru Ravi Kumar Reddy, Chairman and Managing Director of Axis Energy Group, said, “Through this new platform, we will together accelerate the development of renewable energy projects in India with a strong commitment to sustainability and environmental responsibility.”</p>
<p>In June, Brookfield Asset Management <a href="https://www.mercomindia.com/brookfield-asset-management-raises-15-billion-for-clean-energy" target="_blank" rel="noopener">announced</a> the final institutional close of a $15 billion raise for the Brookfield Global Transition Fund, focused on facilitating the global transition to net zero.</p>
<p>Earlier this year, Brookfield Renewable and its investors <a href="https://mercomindia.com/brookfield-renewable-acquires-urban-grid/" target="_blank" rel="noopener">acquired</a> Urban Grid, a U.S.-based renewable energy developer, for $650 million.</p>
<p>In April 2023, Avaada Group <a href="https://www.mercomindia.com/avaada-raises-1-billion-from-brookfield-for-green-hydrogen-foray" target="_blank" rel="noopener">raised</a> $1.07 billion from Brookfield Renewable to support its green hydrogen and green ammonia projects in India. The funding is part of the company’s ongoing plan to raise $1.3 billion.</p>


Brookfield to Invest $845 Million in Renewables JV with Axis Energy in India

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