Anboto Solar (Solarpack), Apraava Energy, Avaada Energy, and ReNew Solar Power emerged as victors in NTPC's auction for the establishment of 1,500 MW interstate transmission system (ISTS)-connected solar power projects (Tranche-I) across India.

Anboto Solar secured 300 MW with the lowest tariff of Rs 2.60 (~$0.0312)/kWh. Avaada and Apraava claimed 500 MW and 300 MW, respectively, at a tariff of Rs 2.65 (~$0.0318)/kWh. ReNew clinched 400 MW out of the 600 MW offered at the same tariff of Rs 2.65 (~$0.0318)/kWh.

The entire 1.5 GW capacity was allocated in this auction, with Sprng Energy, quoting Rs 2.74 (~$0.0329)/kWh for 250 MW capacity, failing to qualify.

NTPC issued the tender in October 2023, specifying that developers must maintain an annual capacity utilisation factor between 80% and 120% during the 25-year power purchase agreement duration. The use of commercially established technologies and adherence to the Ministry of New and Renewable Energy's Approved List of Models and Manufacturers for solar modules were mandated.

In December 2023, NTPC Renewable Energy invited bids for land and an extra-high-voltage transmission system package for ISTS-connected solar power projects up to 800 MW capacity in Maharashtra.

The MNRE's Renewable Energy Implementing Agencies issued 35.51 GW of project tenders until December 2023, falling short of the 50 GW target for the financial year 2023-24. NTPC accounted for approximately 42% of the total capacity tendered during this period, according to Mercom?s India Solar Tender Tracker.