Five companies have won bids for the implementation of 1,200 MW of ISTS-connected solar power projects (Tranche IV). These include Ayana Renewable Power Private Limited (300 MW), ReNew Solar Power Limited (300 MW), Azure Power India Private Limited (300 MW), Mahindra Susten Private Limited (250 MW) and Avaada Power Private Limited (50 MW). Ayana Power, ReNew Power and Azure Power won the bids for developing 300 MW of capacity each by quoting Rs 2.54 per kWh. Besides, Mahindra Susten was awarded 250 MW of capacity at a tariff of Rs 2.54 per kWh and Avaada Power won bids for 50 MW instead of the bidding capacity of 350 MW at Rs 2.55 per kWh. The project involves development of ISTS-connected solar power plants with an aggregate capacity of 1,200 MW across the country on a build, own and operate basis.