PFC Consulting, a unit of Power Finance Corp., has declared the winners of its 1.25 GW solar tender.

Three developers have emerged in the procurement exercise, which yielded a final average price of about INR 2.53 ($0.030)/kWh to INR 2.54/kWh.

NTPC Renewable Energy secured the biggest slice of 900 MW. Acme Cleantech won 300 MW at INR 2.53/kWh. Solarcraft secured 50 MW at INR 2.54/kWh.

The winners will develop solar projects, connected to the interstate transmission grid, on a build-own-operate basis in India.

The capacity will be developed under the scheme for flexibility in the generation and scheduling of thermal/hydro power stations through bundling with renewable energy and storage power.