NTPC Limited has invited bids to select solar developers for setting up 1,000 MW interstate transmission system (ISTS)-connected solar power projects across India.The tender is open for international competitive bidding and the solar developers will be selected based on the lowest quoted ‘SPV Handover Cost’.
NTPC Limited will be the offtaker of power from these solar plants. The power from these solar projects will be used to replace the power from Solapur and Kudgi thermal power stations under the ‘Flexibility in Generation and Scheduling of Thermal power Stations to Reduce Emissions’ program issued by the Ministry of Power. Under this program, a power generating company may set up renewable power projects or procure renewable energy from anywhere in the country. It can thenutilise such renewable capacities for supplying the power against existing commitments.
NTPC will purchase the power at an initial tariff of Rs 1.91/kWh for the first contract year, which will be increased at the rate of Rs 0.01/kWh until the 25th year. The duration of the power purchase agreement will be 25 years from the effective date of the PPA. It reserves the right to take over the special purpose vehicle incorporated for the project after the completion of five years from the commercial operation date. The pre-bid meeting will take place on May 13, 2021 whilethe last date to submit the bids is May 27, 2021. The date for reverse auction will be finalised later