TBEA Secures 300 MW of Solar Projects in the NTPC Auction

TBEA has announced that it has bagged 300 MW of solar projects in the 1.2 GW auction conducted by the National Thermal Power Corporation (NTPC).

A TBEA spokesperson told that while bidding for the project, TBEA offered a tariff rate of ₹2.63 ($0.037)/ kWh for 300 MW of solar projects while SB Energy quoted the tariff of ₹2.65 ($0.037)/ kWh.

With this win, TBEA ventures, known for supplying solar inverters, has set out as a solar independent power producer (IPP) in the Indian renewable energy market.

The technical bids for the tender were opened on September 30, 2019. Out of the 1.2 GW, bids were received only for 600 MW. TBEA and SB energy bid for 300 MW of solar projects each.

 “As per the reverse auction, only one bidder could win the bid for a capacity of 300 MW of solar projects after the auction. TBEA emerged as the winner with 300 MW at the tariff rate of ₹2.63 (~$0.037)/ kWh”, said the company spokesperson.

According to the company statement, “The tariff offered by TBEA Solar, in the wake of current scenarios, seems to be competitive analyzing the previously concluded bid of Solar Energy Corporation of India (SECI) where the maximum capacity was allotted at ₹2.65 ($0.037)/kWh and with the fact that SECI has increased the ceiling tariff to ₹2.78/kWh ($0.039)/ kWh in its recent solar ISTS tender.”