Adani Renewable, Avaada and others Win NHPC’s Auction for 1.2 GW Hybrid Projects
Adani Renewable Energy Holding Twelve, Illuminate Hybren Pvt. Ltd., Sprng Vayu Vidyut Pvt. Ltd. and Avaada Energy have won NHPC’s auction for developing 1,200 MW of Interstate Transmission System (ISTS)-connected wind–solar hybrid power projects in India.
A ‘Greenshoe option’* for an additional 1,200 MW of hybrid projects has also been mentioned in the tender.
Out of the four companies, Adani Renewable Energy has won the largest share of 600 MW, Illuminate Hybren, a part of Mahindra Susten, has won 240 MW and Sprng Vayu Vidyut has been awarded with 150 MW. These three companies will supply the generated power to NHPC at a tariff rate of Rs. 3.41 per KWh each. Further, Avaada Energy quoted Rs. 3.42 per KWh and secured 210 MW. Scope of work for winning bidders also include identifying land for development of projects and obtaining subsequent approvals.
These selected RE developers will sign a 25-year Power Purchase Agreement (PPA) with NHPC.
*Greenshoe option allows the developer to build additional power capacity, which supplies power at same tariff as the original bid.