NHPC has revealed the results of a tender to select developers for 1.2 GW of grid-connected solar projects.

NTPC Renewable Energy secured the largest slice of 300 MW by quoting INR 3.09/kWh. Other winners at this price include Jindal India Renewable Energy with 180 MW, Kolar Solar Power (Rays Power Infra) with 150 MW, and ONIX Renewable with 100 MW.

NHPC awarded the rest of the capacity to ReNew Solar (300 MW) and Adani Renewable Energy (170 MW) at INR 3.10/kWh.

The prospective developers will build, own, and operate the PV projects on sites throughout India.

NHPC will sign power purchase agreements with the selected bidders for periods of 25 years. It will purchase the solar power and sell it to state utilities, distribution companies, and other beneficiaries.