The two winning tariffs in NTPC’s 100 MW tender in Karnataka are both lower than the reserve price of 5.08 INR per kWh ($0.076).
- NTPC awarded 50 MW capacity each to Tata Power Renewable Energy Limited and Adani subsidiary Parampujya Solar Energy Private Limited
- Both the projects will come up in the Pavagada Solar Park located in the southern state of Karnataka
- The capacity was tendered for around $0.072 per kWh - a tariff that was lower than the reserve price of $0.076 per kWh
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The National Thermal Power Corporation (NTPC) of India has announced winners of the 100 MW solar power capacity it had tendered in June 2016 (see NTPC 100 MW Tender In Karnataka). Tata Power Renewable Energy Limited (TPREL) and Parampujya Solar Energy Private Limited have each won 50 MW capacity.
State-run utility NTPC had announced this capacity under the domestic content requirement (DCR) category, which makes it mandatory for project developers to source PV equipment manufactured locally. With the World Trade Organization (WTO) dismissing India’s stance on DCR and deciding in favour of the US, it remains to be seen how the government will now approach the issue of local content requirement in solar power project development (see Final WTO Verdict In India-US Solar Dispute).
These projects will come up as part of the 2 GW Pavagada Solar Park in Karnataka and are part of the National Solar Mission (NSM) Phase-II, Batch-II, Tranche-I. Both the entities will sell the power produced from these projects to the NTPC which in turn will sell it to distribution companies. While Tata Power quoted the lowest power price at 4.84 INR per kWh ($0.072), Parampujya won 50 MW for a slightly higher value of 4.86 INR per kWh ($0.072). Both are lower than the reserve price of 5.08 INR per kWh ($0.076).
Parampujya Solar Energy is a subsidiary of the business conglomerate Adani Group. It recently grabbed headlines when it emerged as the top grosser in the 1 GW solar power capacity tendered by SECI, claiming 390 MW of the total. It also won the entire 100 MW capacity that SECI announced for Chhattisgarh (see Karnataka 1 GW Tender & More). On September 21, 2016, Adani Group commissioned a 648 MW solar power project in Tamil Nadu (see India’s Largest Solar Power Plant).
TPREL had earlier in June 2016 won 30 MW capacity in Maharashtra under the DCR category, which was also tendered by the NTPC (see Tata Power Wins 30 MW Solar Project). With the Welspun acquisition complete, TPREL now owns 2,300 MW of renewable capacity, which it claims makes it the largest renewable energy company in India.