1.4 GW of ISTS solar projects awarded by NTPC cancelled

Solar projects having a cumulative capacity of 1.4 GW of the 2 GW auctioned under NTPC Limited have been cancelled due to regulatory delays. The cancelled projects were awarded to ACME Solar (600 MW), Shapoorji Pallonji (500 MW), and Azure Power (300 MW). The tariff for the projects was set at Rs 2.59 per kW. SB Energy, which was awarded 600 MW of projects at a tariff of Rs 2.60 per kWh, was the only project that was not cancelled. The power purchase agreement stood terminated because the two-month deadline for obtaining certain regulatory approvals had lapsed.

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