Author: PPD Team Date: 16/05/2025
NHPC Limited has issued Letters of Award (LoAs) to four developers for setting up a total of 2,400 MW of Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects across India. These projects, awarded under Tranche-X, may include Energy Storage Systems (ESS) and will be developed on a build, own, and operate (BOO) basis.
Sprng Vayu Vidyut Private Limited (Sprng Energy) secured 150 MW by quoting 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 [Adani Green Energy Limited (AGEL)] received 600 MW base capacity and another 600 MW under the greenshoe option, quoting Rs 3.41 per kWh.
Avaada Energy Private Limited (Avaada Power) won 210 MW base capacity at Rs 3.42 per kWh and an additional 600 MW under the greenshoe option at Rs 3.41 per kWh.
NHPC had invited bids in December 2024 to develop 1,200 MW ISTS-connected hybrid projects, with an additional 1,200 MW capacity available under the greenshoe option. The developers will also set up dedicated transmission systems up to the interconnection point.
NHPC will sign 25-year power purchase agreements (PPAs) with the winning bidders. The Scheduled Commencement of Supply Date (SCSD) is set at 30 months for projects over 1,000 MW and 24 months for those below this threshold, from the date of PPA signing.