Author: PPD Team Date: 17/03/2025
Four companies have secured contracts to develop a total of 1,200 MW of Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects under NHPC Limited’s Tranche-X bidding. These projects can be developed anywhere in India on a build, own, and operate (BOO) basis, with or without Energy Storage Systems (ESS).
The winners include Sprng Vayu Vidyut Private Limited (Sprng Energy Private Limited), which secured 150 MW at a tariff of Rs 3.41 per kWh. Illuminate Hybren Private Limited (Mahindra Susten) won 240 MW at the same tariff. Adani Renewable Energy Holding Twelve Limited, a subsidiary of Adani Green Energy Limited (AGEL), bagged the largest share with 600 MW, also at Rs 3.41 per kWh. Avaada Energy Private Limited (Avaada Power Private Limited) initially bid for 600 MW but secured 210 MW at Rs 3.42 per kWh.
NHPC invited Request for Selection (RfS) bids in December 2024 for selecting Hybrid Power Developers (HPDs) to set up these projects through a tariff-based competitive bidding (TBCB) process. The projects come with a greenshoe option for an additional 1,200 MW capacity.
The selected developers will establish the hybrid projects, including the necessary transmission network, to supply power to NHPC. The company will sign 25-year power purchase agreements (PPAs) with the successful bidders. The projects are expected to commence power supply within 24 months from the signing of the PPA.