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 Energy Limited) have secured NHPC Limited’s auction to develop 1,200 MW inter-state transmission system (ISTS) connected solar power projects, incorporating 600 MW/1,200 MWh energy storage systems (ESS).
Onix, Jindal, NTPC, and Kolar were awarded capacities of 100 MW, 180 MW, 300 MW, and 150 MW, respectively, at a tariff of Rs 3.09 per kWh. ReNew Solar Power and Adani Renewable Energy Holding Nine were allocated 300 MW and 170 MW, respectively, at a tariff of Rs 3.10 per kWh. The tender was floated in September 2024, and the projects are to be completed within 24 to 30 months from signing the power purchase agreement (PPA).
The solar power projects are to be implemented on a build-own-operate basis, with a minimum project size requirement of 50 MW, including an ESS component of at least 25 MW/50 MWh, in multiples of 10 MW. The total capacity must not exceed 600 MW (with a minimum ESS component of 300 MW/600 MWh) without the greenshoe option and 1,200 MW with the greenshoe option. For projects in the northeastern and Special Category states, the minimum capacity can be 30 MW, with an ESS component of 15 MW/30 MWh.
NHPC will purchase and sell the generated solar power to state utilities and other entities, with an ESS of at least 0.5 MW/1 MWh required for each 1 MW of contracted capacity. NHPC will enter into a 25-year PPA with the selected bidders, who must quote a single tariff for the entire project capacity. The projects are technology-agnostic, allowing the use of crystalline silicon, thin film, or concentrated photovoltaic modules, with or without trackers.
The projects must maintain a minimum capacity utilisation factor (CUF) within 10 per cent and -15 per cent of the declared value for the first ten years after commercial operation for non-peak power supply. For the remaining duration of the PPA, the CUF must remain within 10 per cent and -20 per cent of the declared annual value. Additionally, no central financial assistance will be provided for implementing these projects.
