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NHPC has completed an auction for 1,200 MW of ISTS-connected wind-solar hybrid power projects under Tranche X. These projects could be developed with or without storage. The auction achieved a competitive tariff, setting a benchmark with a discovered rate of ?3.41 per kWh. The tariffs in this auction ranged between ?3.41 and ?3.42 per kWh, showing strong interest from developers and the competitiveness of India’s renewable energy market. Four companies were awarded contracts in this auction for a combined capacity of 1,200 MW. Adani Renewable Energy Holding Twelve, a part of Adani Green Energy, secured the largest share with 600 MW at ?3.41 per kWh. Illuminate Hybren, which is part of Mahindra Susten, won 240 MW, also at ?3.41 per kWh. Sprng Vayu Vidyut (Sprng Energy) was awarded 150 MW at the same tariff of ?3.41 per kWh. Avaada Energy quoted ?3.42 per kWh and secured 210 MW. All four companies submitted tariff bids that resulted in the entire 1,200 MW capacity being successfully allotted. NHPC had earlier invited competitive bids for these projects, which will be connected to the Inter-State Transmission System. The selected developers will sign a 25-year power purchase agreement with NHPC. Developers are responsible for arranging their own land and obtaining necessary permits and clearances. Each project must have a minimum capacity of 50 MW, increasing in multiples of 10 MW. However, projects in North-Eastern states and other special category states are allowed a lower minimum size of 30 MW. |
