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NTPC emerges as lowest bidder in 550-MW Uttar Pradesh solar auction

The 101-MWp Mirzapur solar power plant in Uttar Pradesh. Source: Engie

December 5 (Renewables Now) - Indian power group NTPC Ltd (BOM:532555) has won 85 MW in a recent solar power tender in the state of Uttar Pradesh targeting 550 MW.

NTPC said in a statement today it has bid INR 3.02 (USD 0.043/EUR 0.038) per kWh, which, according to an official quoted by Mercom India, is the lowest tariff offered in the reverse auction held by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) on December 3.

The power producer noted that it won the entire grid-connected solar capacity it bid for. The levelised tariff is applicable for a period of 25 years.

Avaada subsidiary Giriraj Renewables has won the biggest portion of the auctioned capacity (100 MW) with a bid of INR 3.07/MWh. The highest successful tariff (INR 3.08/MWh) was offered by units of Adani and Tata Power, each targeting 50 MW. Adani’s Mahoba Solar, however, won just 25 MW with that bid, the official has told Mercom. Both firms have also won 50 MW each with bids of INR 3.07/MWh.

(INR 10 = USD 0.142/EUR 0.125)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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