Juniper Green Energy will use the amount to fund its upcoming 1.2 GW of renewable energy projects.

Avaada Energy will supply solar power at a tariff of INR 2.61 ($0.032)/kWh, the highest among all winners of the auction.

Adani, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure Ltd, and Rajasthan Renewable Energy are amongst companies that signed the MoUs to raise funds for their clean energy projects.

GMR Smart Electricity Distribution has won a project to install over 7.5 million prepaid smart meters in Uttar Pradesh. It will implement these smart meters on a design, build, finance, own, operate, and transfer basis.

SJVN Green Energy Ltd will develop 1.2 GW of solar projects for supply to Punjab State Power Corp. Ltd under a 25-year power purchase agreement.

The winning developers can set up projects anywhere in India, as long as these are connected to the interstate transmission system (ISTS). 

Power Finance Corp. (PFC) and Rural Electrification Corp. (REC) committed debt funding of $3.9 billion each.

REC has also agreed to lend INR 21,000 crore for Acme’s 380 MW round-the-clock renewables plant, the first phase of Odisha and Tamil Nadu green ammonia projects, and 600 MWh of pumped hydro project. 

Hindustan Petroleum Corp. Ltd (HPCL) is setting up a 370 tpa (tonnes per annum) green hydrogen plant at its Visakhapatnam Refinery in Andhra Pradesh.

India will install open-access (off-site) solar and wind power generation capacity of 4-5 GW annually for the next two to three years, according to CareEdge Ratings analysts.