The Indian company NHPC has launched a tender for the development of 1.2 GW of ISTS-connected solar power projects across India, with a greenshoe option for an additional 1.2 GW under Tranche-IX. Bids can be submitted until 4 November 2024 and selected bidders will enter a 25-year power purchase agreement (PPA) with NHPC. The minimum size for the proposed projects has been set at 50 MW.
In addition, the Indian group SJVN has unveiled the winners of its latest tender to procure 1.2 GW of ISTS-connected renewable energy projects with energy storage in India, under a tariff-based competitive bidding (FDRE II). Companies Juniper, ReNew, Zelestra, and Hero Solar Energy respectively won 200 MW, 150 MW, 140 MW, and 120 MW at a tariff of INR4.25/kWh (US$5.06c/kWh), while Avaada was awarded 590 MW at a tariff of INR4.26/kWh (US$5.07c/kWh).
India plans to connect 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. At the end of 2023, solar and wind accounted for nearly 24% of installed capacity in India, with respectively 73 GW and 45 GW.
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