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Hexa Climate Solutions, ACME Solar and Avaada Energy Win NTPC’s 1200 MW FDRE Auction

Hexa Climate Solutions (300 MW), ACME Solar Holdings (400 MW), and Avaada Energy (60 MW) have won NTPC’s auction to supply 1,200 MW of firm, dispatchable power with assured peak availability from ISTS-connected renewable energy projects.

November 11, 2024. By Mrinmoy Dey

Hexa Climate Solutions, ACME Solar Holdings, and Avaada Energy have emerged as winners in NTPC’s auction to supply 1,200 MW of firm, dispatchable power with guaranteed peak power availability from ISTS-connected renewable energy projects.

Hexa Climate Solutions emerged as the L1 bidder quoting a tariff of INR 4.69/kWh and was awarded 300 MW. The IPO-bound ACME Solar Holdings has won 400 MW at a tariff of INR 4.70/kWh. Avaada Energy won the remaining 60 MW at a tariff of INR 4.70/kWh. The total capacity was reduced to 760 MW.

The tender was issued in June this year.

The projects will be developed on a build-own-operate basis. In the terms of the tender, NTPC specified a minimum project size of 50 MW, increasing in increments of 10 MW. A single bidder could have been allotted a maximum capacity of 600 MW.

Energy storage systems are required for the project, with a mandate for at least 90 percent power availability during peak hours of the contracted MW capacity. The minimum declared capacity utilization factor (CUF) is set at 40 percent.

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Hexa Climate Solutions

Firm and Dispatchable Renewable Energy