National Thermal Power Corp. (NTPC), India’s largest energy conglomerate, has suffered a serious blow to its reputation after it failed to attract bids for its 1.2 GW solar project, despite multiple deadline extensions.
The plant—located at Maranthai and Pudur Villages in Tirunelveli District of Tamil Nadu—is part of 709 MW solar power projects awarded by utility Tamil Nadu Generation and Distribution Corporation.
Gujarat’s total installed solar capacity has crossed the 2.6 GW mark, according to the latest data released by the Gujarat Energy Development Agency (GEDA).
The National Solar Energy Federation of India has warned the Ministry of Power that PV developers may be deterred from participating in state tenders because distribution companies are still not issuing letters of credit as a payment security mechanism.
The plant will attract an investment of Rs 750 crore into the state, with Rs 500 crore coming from ReNew Power to set up 100 MW and Rs 250 crore from Shapoorji Pallonji for the remaining 50 MW.
The projects — solar, wind or a combination thereof — are expected to supply power for a minimum of six hours per day during periods of peak demand. The last date for bids is Sept. 17.
The Shapoorji Pallonji Group’s solar EPC business will hit the capital markets with an initial public offering on Aug. 6.
The winning developer will be able to use solar modules and cells of any origin for the plant, which will be built in Auraiya district, Uttar Pradesh. Bidding closes on Sept. 5.
Micro and mini grid-connected projects will also be considered. The projects—to be developed on ‘build-own-operate’ basis—can be set up anywhere in India for self-use or use by government entities at maximum fixed tariffs of Rs 3.50/kWh. Bidding will close on August 23.
The NYSE-listed solar developer now has 1.5 GW of interstate transmission system projects with sovereign counterparties—the largest such portfolio in India.
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