India’s power group NTPC has unveiled the winners of its latest auction to procure 1.2 GW of ISTS-connected renewable energy projects across India. The tender, which was launched in June 2024, was undersubscribed as only 760 MW of capacity was awarded.
Among the winners, Hexa Climate solutions won 300 MW at a tariff of INR4.69/kWh (US$5.56c/kWh), while ACME Solar Holdings and Avaada Energy were awarded 400 MW and 60 MW, respectively, at a tariff on INR4.70/kWh (US$5.58c/kWh). The projects will be developed on a build-own-operate (BOO) basis.
At the end of 2023, solar and wind accounted for nearly 24% of installed capacity in India, with respectively 73 GW and 45 GW. India plans to connect 30 to 35 GW of solar and wind energy capacity to its grid during the fiscal year 2024-2025, and plans to eventually increase its non-fossil fuel capacity to 500 GW by 2030.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.