Results for PFC Consulting Limited’s auction to develop 1,250 MW of inter-state transmission system connected solar power projects have been announced. The tender for the project was issued in September 2023. By quoting Rs 2.53 per kWh, NTPC Renewable Energy Limited and ACME Solar have won 900 MW and 300 MW, respectively. While Blupine Energy won 50 MW by quoting Rs 2.54 per kWh.
The projects which are to be set up anywhere in India, will be developed on the basis of build, own, and operate model as a part of flexibility in generating and scheduling of thermal-hydro power stations through bundling with the renewable energy and storage programme.
The winning developers are required to enter in power purchase agreement (PPA) with NTPC for a period of 25 years and to maintain at least 22 per cent annual capacity utilization factor. Furthermore, the developers will be responsible for developing transmission systems for the project. The winners are required to commission the projects within 18 months of the PPA being signed. Furthermore, it has been mandated for developers to use indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.
In September 2023, Serentica Renewables bagged Rs 26 billion in financing from PFC Limited for its upcoming hybrid clean energy projects in Karnataka.
In August 2023, PFC Limited secured a loan worth 1.85 billion Japanese yen from the Japan Bank for International Cooperation to fund KPC Gas Power Corporation’s 11.5 MW waste-to-energy project at Bidadi, Ramanagara District, Karnataka.
