India’s NTPC 1.2 GW solar auction sees aggressive tariff of INR 2.43/kWh

Low tariff trends can be attributed to developers’ desperate attempt to take advantage of the current situation wherein only a safeguard duty of 14.9% is applicable, according to JMK Research.

From pv magazine India.

Four developers emerged winners in the reverse auction of 1.2 GW of Interstate Transmission System (ISTS) connected solar projects, conducted by the NTPC. The auction saw the lowest winning bid of INR 2.43 per kilowatt-hour.

Winners included O2 power (400 MW), Tata Power (370 MW), Azure Power (300 MW) and AMP Energy (100 MW). 

NTPC 1.2 GW ISTS solar auction resultsSource: JMK Research

Commenting on the auction results, JMK Research stated: “The tariffs seen in the last two auctions, i.e., earlier SECI 2 GW with INR 2.36/kWh tariff and this one are highly aggressive. The low tariff trends can be a desperate situation wherein developers are looking to take advantage of the current situation wherein only safeguard duty of 14.9% is applicable.”

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