NTPC announces winners of 1.2 GW ISTS-connected solar auction; allocates 976 MW

NTPC has released the results of its 1.2 GW ISTS-connected solar projects auction. The winning companies include SAEL Industries, Rays Power Infra, Refex Green, ReNew Solar, and Illuminate Hybren (Mahindra Susten). 

SAEL secured 300 MW, Rays Power 100 MW, and Refex Green 100 MW, all at a tariff of Rs 2.50 per kWh. ReNew Solar and Illuminate Hybren were awarded 300 MW and 176 MW at a tariff of Rs 2.51 per kWh. Although the tender aimed for 1.2 GW, NTPC has allocated 976 MW so far.

The tender, issued in June 2024, mandates the use of solar modules listed in List-I under the Approved Models and Manufacturers of Solar Photovoltaic Modules from the Ministry of New and Renewable Energy.

In other developments, NTPC issued a tender in September 2024 for a detailed project report for an 800 MW pumped storage project (PSP) in Amba, Maharashtra. Additionally, NTPC commissioned a 160 MW solar project in Jaisalmer, Rajasthan, as part of its 320 MW Bhainsara solar initiative.