Mytrah Energy (India) Pvt. Ltd. (MEIPL), a leading independent renewable power producer of India, has emerged as one of the winners of the 1200MW bid conducted by National Thermal Power Corporation Limited (NTPC), India’s largest power utility.
Mytrah quoted a tariff of INR 2.79 per unit under the reverse e-Auction and won the bid for a capacity of 300 MW in the first ISTS (Inter-State Transmission System) wind bids conducted by NTPC.
Vikram Kailas, VC & MD of Mytrah Energy, said, “This project is one more milestone in our continuing journey to achieve a robust, well-diversified power generation footprint in the Indian renewable power generation sector. It also proves that Mytrah is well positioned to add to its portfolio of assets at competitive tariffs that provide meaningful returns to all its stakeholders.”
A total of seven companies participated in the reverse auction, collectively submitting bids for a cumulative capacity of 1750 MW.
Other winners are Srijan Energy Systems Pvt. Ltd with 50 MW at INR 2.80, Fasten Power Pvt. Ltd with 50 MW (out of 300 MW) at INR 2.83, Sprng Vayu Vidyut Pvt. Ltd with 200 MW of capacity at INR 2.77. ReNew Wind Energy at INR 2.81 and Hero Wind Energy Pvt Ltd at INR 2.82 won 300 MW respectively.
The original capacity for the auction was 2000MW of wind power supply, which was subsequently reduced to 1200MW. The letter of agreement will be issued by NTPC by mid-September 2018, followed by the signing of a power purchase agreement. The project shall be commissioned within 18 months from the signing date of the agreement.
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