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Adani Green, Jindal India, and Others Win NHPC's 1.2 GW Solar Plus Storage Auction

NHPC has concluded its auction for setting up 1,200 MW of inter-state transmission system-connected solar power projects, integrated with a 600 MW/1,200 MWh energy storage system (ESS). The auction, floated in September 2024, saw winners including Onix Renewable, Jindal India Renewable Energy, NTPC Renewable Energy, Kolar Solar Power (Rays Power Infra), ReNew Solar Power, and Adani Renewable Energy Holding Nine (Adani Green).

Awarded Capacities and Tariffs were as follows:

• Onix Renewable: 100 MW
• Jindal India Renewable Energy: 180 MW
• NTPC Renewable Energy: 300 MW
• Kolar Solar Power (Rays Power Infra): 150 MW
• Adani Renewable Energy Holding Nine: 170 MW

All projects were awarded at a tariff of ?3.09 per unit.

The solar projects must be completed within 24 to 30 months from the signing of the power purchase agreement (PPA). They are to be developed on a build-own-operate basis, with a minimum project size of 50 MW (including at least 25 MW/50 MWh of ESS) and additional capacity in multiples of 10 MW.

For northeastern and Special Category states, the minimum project size is reduced to 30 MW, with an ESS component of 15 MW/30 MWh. The cumulative capacity is capped at 600 MW (with 300 MW/600 MWh of ESS) under the main tender, though it can expand to 1,200 MW using the greenshoe option.

NHPC will procure the solar power generated and resell it to state utilities and other buyers. Each 1 MW of contracted capacity must include an ESS of at least 0.5 MW/1 MWh. The PPA, valid for 25 years, requires bidders to quote a single tariff for the project’s entire capacity.

The projects are technology-agnostic, allowing the use of crystalline silicon, thin-film, or concentrated photovoltaic modules, with or without trackers. No central financial assistance will be provided for project implementation.

The projects must maintain a minimum capacity utilization factor (CUF) of ±10% for the first 10 years and ±15% to ±20% thereafter, based on the declared CUF value. Additionally, up to 5% of the annual renewable energy requirement can be sourced from green market or bilateral agreements.