PNC Infratech Ltd announced on Wednesday that it has been declared the lowest (L1) bidder for a 300 MW Inter-State Transmission System (ISTS)-connected solar power project with a 150 MW / 600 MWh energy storage system (ESS), floated by state-run NHPC Ltd.

The contract was awarded through a tariff-based competitive bidding (TBCB) process, with a quoted tariff of Rs 3.13 per kilowatt hour, according to a regulatory filing.

This allocation forms part of NHPC’s larger tender to establish 1,200 MW ISTS-connected solar capacity with 600 MW / 2,400 MWh ESS across India, including a green-shoe option. PNC secured its allotment via an electronic reverse auction held on 15 July.

The project is scheduled for completion within 24 months from the effective date of the power purchase agreement (PPA), followed by a 25-year operational period.

PNC confirmed the award involves a domestic entity and is not a related-party transaction. Neither the promoters nor group companies have any interests in NHPC.