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Reliance Infra, JBM, SAEL Among Winners in NHPC’s 1.2 GW Solar + Storage Auction

Reliance Infrastructure, JBM Renewables, SAEL Industries, PNC Infratech, and Navayuga Engineering Company have emerged as winners in NHPC’s 1.2 GW (Tranche-XI) auction for interstate transmission system (ISTS)-connected solar projects integrated with 600 MW/2,400 MWh energy storage systems (ESS). The auction concluded at a discovered tariff of Rs3.13/kWh.

Reliance Infrastructure secured the largest share with 390 MW, followed by SAEL Industries and PNC Infratech with 300 MW each. JBM Renewables won 150 MW, while Navayuga Engineering Company secured 60 MW via bucket-filling. The auction, floated in March 2025, includes a greenshoe option for an additional 1.2 GW capacity.

The projects will be developed on a build-own-operate basis using approved solar technologies and must utilize ESS with a minimum capacity of 0.5 MW/2 MWh per MW contracted. ESS must be charged using solar power and can draw up to 5% from the green market or bilateral renewable sources.

Bidders can set up projects across multiple locations, each with a minimum 50 MW project size and 25 MW/100 MWh ESS. Individual bidders are capped at 600 MW total capacity without invoking the greenshoe.

This follows similar hybrid auctions won by SAEL, JBM, Reliance NU Energies, and others earlier this year, reinforcing India’s shift toward dispatchable renewable energy.