NTPC Auctions 1.17 GW Out Of 1.2 GW Solar Tendered

• NTPC has announced auction winners of 1.2 GW solar tender it launched in February 2020
• Though the tender was oversubscribed, some bids did not clear the technical qualification round, hence it awarded 1.17 GW of the total
• Against the ceiling tariff of INR 2.78 per kWh, the lowest winning bid was INR 2.43 per kWh
• O2 Power, Azure Power and Tata Power all offered the same tariff level of INR 2.43 per kWh, while Amp Energy won a smaller portion at INR 2.44 per kWh

India's National Thermal Power Corporation Limited (NTPC) has selected 4 companies to award 1.17 GW of solar power capacity that it tendered earlier this year with a total capacity of 1.2 GW. The tender was first launched in February 2020 with March 19, 2020 as the last date to submit bids which was extended later (see NTPC Launches Tender For 1.2 GW PV Capacity).

Mercom India Research earlier reported the 1.2 GW tender was oversubscribed by 500 MW, but it now adds due to some bids unable to clear technical round, the final capacity awarded was 80% of the bids received.

Against the ceiling tariff of INR 2.78 ($0.037) per kWh, Mercom says, the lowest winning bids came in at INR 2.43 ($0.0325) per kWh and were offered by O2 Power, Azure Power and Tata Power. The trio secured 400 MW, 300 MW and 370 MW, respectively. Amp Energy won 100 MW for INR 2.44 ($0.0327) per kWh.

It adds that ReNew Power bid for 300 MW, but didn't win any capacity.

Winning developers of the NTPC auction can develop their capacity anywhere in the country as long as they are connected to the interstate transmission system (ISTS). The Indian Ministry of Power has extended the ISTS transmission charges waive-off date for solar and wind power commissioned till June 30, 2023 (see ISTS Charges Waive Off Period Extended In India Again).