The Indian company NHPC has unveiled the winners of its latest tender to procure 1.2 GW of ISTS-connected wind-solar hybrid capacity, to be developed across India under tranche-X, with or without energy storage. The tender was originally floated in December 2024 and also offered an additional 1.2 GW greenshoe option.
Adani Renewable Energy secured the most capacity with 600 MW, at a tariff of INR 3.41/kWh (US$3.91c/kWh), the average price for this auction. Mahindra Susten and Sprng Energy were awarded 240 MW and 150 MW, respectively, at the same price, while Avaada Energy was allocated 210 MW at INR 3.42/kWh (US$3.92c/kWh). NHPC will enter into a 25-year power purchase agreement (PPA) with the successful developers.
India aims to establish 500 GW of non-fossil fuel electricity generation capacity by 2030.
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