NHPC concludes tranche VI auction, awarding 1,200 MW of FDRE projects

NHPC Limited has successfully concluded its tranche VI auction, awarding 1,200 MW of firm and dispatchable renewable energy (FDRE) projects integrated with energy storage systems and connected to the inter-state transmission system (ISTS). The auction also included a greenshoe option of 1,200 MW. 

Jevargi Solar Power was awarded 150 MW at Rs 4.48 per kWh, while Juniper Green Energy and Avaada Energy secured 200 MW and 600 MW, respectively, at Rs 4.56 per kWh. ACME Solar Holdings received 250 MW at Rs 4.56 per kWh from its quoted 600 MW capacity.

The auction, initiated in June 2024, involves 25-year power purchase agreements (PPAs) between NHPC and the selected developers. The minimum project size was set at 50 MW, with flexibility for smaller projects in northeastern states. The tender also provides for the transfer or sale of projects to third parties after a one-year lock-in period, subject to NHPC’s PPA terms.