Hexa Climate Solutions, ACME Solar Holdings, and Avaada Energy emerged as winners in NTPC’s auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) with peak power through interstate transmission system (ISTS)-connected projects. The tender was issued in June 2024.
Hexa Climate secured 300 MW at a tariff of Rs 4.69 per kWh, while ACME Solar won 400 MW at Rs 4.70 per kWh. Additionally, Avaada Energy won 60 MW of its quoted 250 MW at Rs 4.70 per kWh under the bucket-filling method.
These projects will be developed on a build-own-operate basis. NTPC set a minimum project size of 50 MW, with increments allowed in multiples of 10 MW, and a maximum allotment of 600 MW per bidder. Energy storage systems are required for each project, and a minimum of 90 per cent power availability during peak hours is mandated. Additionally, each project must meet a minimum declared capacity utilisation factor (CUF) of 40 per cent.
To promote FDRE, the Ministry of Power established guidelines for competitive bidding to procure firm and dispatchable renewable energy from grid-connected projects with storage. This approach aims to provide reliable renewable power to distribution companies, addressing the challenges of renewable intermittency and improving transmission system utilisation.
In October 2024, Hero Solar Energy, Ganeko Solar (Zelestra), Juniper Green Energy, ReNew, and Avaada emerged as the winners in SJVN’s 1,200 MW FDRE auction.
