The Solar Energy Corporation of India has awarded capacities to NTPC, Sprng Energy, UPC Renewables, Metka EGN Singapore Pte, ReNew Power, and ACME Solar in its auction for 1,785 MW of solar power projects (Tranche IV) in Rajasthan. With a quoted tariff of Rs 2.17 per kWh, NTPC Renewable Energy (a subsidiary of NTPC Limited) won a capacity of 500 MW, Sprng Energy Natural Power Source won 200 MW, Calpine Subsico Solar Energy (an SPV of UPC Renewables) won 90 MW, and Metka EGN Singapore Pte won 20 MW.
ReNew Solar Power received 600 MW, whereas ACME Solar received 375 MW though it had bid for the entire 1,785 MW capacity. Both companies quoted at a tariff of Rs 2.18 per kWh. In 2021, the auction yielded the second-lowest tariff. The previous low tariff was Rs 2.14 per kWh in 2021, when the Neemuch Solar Park in Madhya Pradesh held an auction for 500 MW of projects.
As per the tender guidelines, the bidders must adhere to technical specifications. One of the modifications stipulates that the cells and modules used in the project under the RfS must come from the models and manufacturers included in the ‘approved list of models and manufacturers (ALMM),’ as published by the Ministry of New and Renewable Energy (MNRE).