National Hydroelectric Power Corporation (NHPC), which was awarded a 1000 MW Capacity Solar Power Project in the Phase II, Tranche III auction in September 2021, has finally completed contract awarding for the project. Previously, NHPC won the e-Reverse auction organised by Indian Renewable Energy Development Agency Limited (IREDA) with a viability gap funding (VGF) of Rs. 4.49 million per MW. The contracts have been awarded to the three bidders, including Adani Infra (India), which won a contract worth Rs 42.96 billion to develop 600 MW capacity in Gujarat. The other winners were Tata Power Solar Systems Limited which won a contract worth Rs 17.32 billion to develop a 300 MW capacity in Rajasthan, and a joint venture of Shirdi Sai Electricals and ASR, which won a contract worth Rs 5.77 billion to develop 100 MW capacity in Andhra Pradesh.
IREDA issued a tender for the selection of solar power developers to build a total of 5000 MW grid-connected solar PV power projects in India. It had received 6960 MW of responses from several PSUs.Under Tranche-III of CPSU Scheme Phase II, NHPC Limited has awarded EPC contracts for the grid connected solar PV project (1000 MW Capacity) and transmission line for power evacuation to ISTS sub station, as well as comprehensive operations and maintenance for 5 Years. The letters of award have been issued with a total contract value of Rs 66 billion and completion period of 18 months.
In January 2022, NHPC Limited signed an agreement with Green Energy Development Corporation of Odisha Limited (GEDCOL) to form a joint venture (JV) for setting up 500 MW floating solar power projects in Odisha. The equity shareholding of NHPC and GEDCOL in the proposed JV will be in the proportion of 74:26. The JV’s authorised share capital will be Rs 5 billion, with an initial paid-up share capital of Rs 100 million.