• NTPC announces the winners of 350 MW solar power capacity auction
  • ReNew Solar Power reportedly won; it offered the lowest tariff in the auction at 4.66 INR per kWh
  • Other winners include Karvy, Azure, Acme, Parampujya
  • With this award, ReNew has increased its solar power pipeline in the state from the last recorded 286 MW

The state-owned utility National Thermal Power Corporation (NTPC) has announced the winners of its 350 MW solar power project tender in Telangana. According to clean energy consultancy Bridge to India, the lowest tariff in the tender was 4.66 INR per kWh ($0.07).

ReNew Solar Power Private Limited won 100 MW at the lowest tariff in the tender at 4.66 INR per kWh, while Karvy Consultants Limited (50 MW), Azure Power India Private Limited (100 MW), Acme Solar Holdings Private Limited, Parampujya Solar Energy Private Limited (50 MW) won solar capacities for 4.67 INR per kWh.

In early March, ReNew had shared that it is already developing four solar PV power projects in the state for a cumulative capacity of 286 MW.

Indian solar power auctions have witnessed record low tariffs – both quoted and awarded. This has made some question the viability of these projects in the long run. Yet, going by the Telangana tariffs staying lower than 5 INR per kWh ($0.08), it looks like these tariffs are here to stay; even more when you look at the recent DEWA tender in Dubai, where the five top bidders were offering power prices at less than 4.5 US cents per kWh (see Real Cheap Solar).