Winning bidders announced for NTPC’s 1.2 GW solar tender

O2 Power, Tata Power, Azure Power, and AMP Energy have emerged as winners in NTPC Limited’s 1.2 GW inter-state transmission system (ISTS) connected solar projects. Of the total capacity 1,170 MWcapacity was allocated cumulatively. The three bidders, O2 Power, Azure Power and Tata Power matched the winning tariff of Rs 2.43 per kWh. O2 Power won 400 MW of capacity, while Tata Power secured 370 MW capacity and Azure was allotted 300 MW capacity.AMP Energy secured 100 MW capacity at a tariff of Rs 2.44 per kWh.The tender has a minimum capacity utilisation factor condition of 19 per cent and a commissioning timeline of 24 months. In July, the tender had received bids of about 1.7 GW of capacity.

In February 2020, NTPC floated an invitation for bids for the selection of solar power developers to set up 1.2 GW of ISTS-connected solar projects. The tender was announced with a ceiling tariff set at Rs 2.78 per kWh. The deadline was later extended to July 15, 2020 from an earlier deadline of May 28, 2020. The winning tariff was considerably lower than the tariff ceiling, indicating a downward trend in tariffs and aggressive bidding. This trend was also seen in the recent SECI auction for 2 GW of solar power, where a record low tariff of Rs 2.36 per kWh was discovered.

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