The National Thermal Power Corporation (NTPC) has emerged as the lowest bidder in the auction for 500 MW of grid-connected solar projects conducted by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). With this auction, the solar tariffs in the state have stabilized around the ₹3 (~$0.04315)/kWh.
The auction received a poor response as bids of only 90 MW were received for the 500 MW tender and in line with the RfS and PPA regulations, only 80% of the bids could be awarded. NTPC quoted the lowest tariff of ₹3.02 (~$0.0434)/kWh to win two bids to develop a capacity 20 MW each. Sukhbir Agro quoted ₹3.05 (~$0.0439)/kWh to set up 50 MW of grid-connected solar PV projects but will be awarded only 32 MW.
A UPNEDA official confirmed the culmination of the auction and said, “We are shocked by the response. We are going to convene a meeting of all the stakeholders and try to fathom the issues Read More