Author: PPD Team Date: 28/03/2025
Uttar Pradesh Power Corporation Limited (UPPCL) has awarded bids for setting up 1,000 MW of Inter-State Transmission System (ISTS)-connected solar power projects across India. The bidding results were announced on March 28, 2025, with three firms securing contracts under the tariff-based competitive bidding (TBCB) process.
ReNew Solar Power Private Limited, a subsidiary of ReNew Power Ventures Private Limited, secured 300 MW at a tariff of Rs 2.56 per kWh.
Adani Renewable Energy Holding Twelve Limited, part of Adani Green Energy Limited (AGEL), initially bid for 1,000 MW but won 400 MW under the bucket-filling method at a tariff of Rs 2.57 per kWh. The project will be set up in Rajasthan.
Fastnote Biofuels Private Limited, a subsidiary of Hindustan Powerprojects Private Limited (HPPPL), secured 300 MW at a tariff of Rs 2.57 per kWh. This project will be developed in Madhya Pradesh.
The selected firms will be responsible for land identification, installation, ownership, and obtaining necessary approvals under the build, own, operate, and maintain (BOOM) model. The power generated will be supplied to UPPCL.
UPPCL had invited bids in February 2024 for 2,000 MW ISTS-connected solar power projects. The successful bidders will enter a 25-year power purchase agreement (PPA) with UPPCL, with supply scheduled to commence within 24 months from the PPA signing date.