The outcomes of the auction conducted by Power Finance Corporation Consulting Limited for the development of 1,250 MW inter-state transmission system-connected solar power projects have been disclosed.
The tender, initiated in September 2023, saw NTPC Renewable Energy Limited and ACME Solar emerge as winners, securing 900 MW and 300 MW, respectively, by quoting Rs 2.53 per kWh. Additionally, Blupine Energy secured 50 MW at Rs 2.54 per kWh. The projects, which have the flexibility to be established anywhere in India, will follow the build, own, and operate model. This approach is part of the strategy to enhance flexibility in generating and scheduling power from thermal-hydro power stations through bundling with the renewable energy and storage program. Further, winning developers are obligated to enter into a power purchase agreement (PPA) with NTPC, spanning a 25-year duration, and must maintain a minimum annual capacity utilisation factor of 22 percent. Moreover, developers are responsible for the development of transmission systems for the projects. The stipulated timeline for commissioning the projects is set at 18 months from the signing of the PPA. Additionally, developers are mandated to utilise indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.