New Delhi: State-run NTPC Limited has floated a tender to acquire 1 GW of operational solar projects across India, an RFP (Request for Proposal) floated by NTPC showed. According to the document, NTPC is looking to acquire these solar projects from independent power producers, developers, financial intermediaries of power generation companies, lenders or merchant bankers. The move is a part of NTPC's bigger plan to acquire 32 GW of renewable energy portfolio by 2032 and increase RE's share to 25 percent in its overall installed capacity. Interested bidders are to an earnest money deposit (EMD) of Rs 10 million and the last date for submission of bids is September 22.
The RFP requires bidders to have operational solar projects of at least 50 MW (AC) at a single location. The projects should have been in operation for at least a year as on the date of the submission of the bid. According to the RFP, the PPA (power purchase agreement) of the solar projects can have a tariff of up to Rs 5 (~$0.067)/kWh, approved by the state or Central Regulatory Commission.
Projects developed through SPV (Special Purpose Vehicle) will also be eligible for consideration if the bidder intends to offer their 100 percent equity for sale to NTPC. Additionally, standalone projects will also be eligible.
The news comes just a week after PSU Watch reported that NTPC Limited's tender for 1.2 GW grid-connected solar projects had received an overwhelming response from bidders and has been oversubscribed. Among the bidders who have thrown their hats in the ring are ReNew Power, Tata Power, Azure Power, AMP Solar and O2 Power, sources have told PSU Watch. NTPC Limited had floated the tender for 1.2 GW ISTS-connected (Inter State Transmission System) solar power projects in February this year. The tender had a ceiling tariff set at Rs 2.78/KWh.
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