NHPC’s 2 GW solar tender oversubscribed

The National Hydroelectric Power Corporation’s (NHPC) tender for 2 GW of Interstate transmission systems connected solar projects has been oversubscribed by 1.78 GW. The tender received bids from nine developers with individual bids ranging from 300 MW to 600 MW. Bids were received for a total of 3.78 GW.

The NHPC originally floated in September 2019. The tender stated that the projects could be set up anywhere in India. There is no maximum limit of projects a developer can bid for. Projects that have been commissioned are under construction or projects which are not yet commissioned cannot be considered under this tender. Further, enhancement and augmentation of commissioned projects, irrespective of their capacities, would not be allowed under this project. Modules for projects under this tender can be imported (open category).

Bidders were expected to quote a fixed levelised tariff for 25 years. Successful developers are mandated to meet a capacity utilisation factor of at least 19 per cent. The projects are to be set up on a build-own-operate basis on land that is identified and arranged by the solar power developers. NHPC had allowed a commissioning timeline of 18 months from the date of signing the power purchase agreement. The minimum tariff payable to the project was also revised to Rs 2.78 per kWh from Rs 2.65 per kWh. Initially, the NHPC had set a tariff ceiling of Rs 2.95 per kWh. In October 2019, the ceiling tariff was revised to Rs 2.65 per kWh, which will be applicable for 25 years.

Developer Capacity (MW)
ReNew Power 600
SoftBank 600
Avaada Renewables 600
Tata Power 300
O2 Power 380
Brookfield (Axis Energy Hyderabad) 400
AMP Solar 300
NTPC 300
EDEN 300
Total 3,780
Tendered capacity 2,000

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