Indian Utility Ends 2 GW Solar Tender With Lowest Price of $0.03/KWh

Uttar Pradesh Power Corp. Ltd. has recently awarded 2 gigawatts (GW) of solar capacity to four bidders at tariffs ranging from ₹2.56/kWh to ₹2.57/kWh. The highest bidder, NTPC Renewable Energy, secured the largest share, winning 1 GW at ₹2.56/kWh. ReNew also secured 300 MW at this price. Adani Renewable Energy Holding Twelve, a unit of Adani Green Energy Ltd., was awarded 400 MW, while Hindustan Power’s Fastnote Biofuels secured 300 MW, both at ₹2.57/kWh.

The award was made under a competitive bidding process, ensuring fair competition and optimal pricing for consumers. The selected developers are permitted to construct these solar projects anywhere in India, provided they are connected to the interstate transmission system. This initiative aims to promote renewable energy adoption and support India’s transition to a low-carbon energy future.

This move by Uttar Pradesh Power Corp. Ltd. highlights the government’s commitment to advancing solar energy infrastructure and fostering a sustainable energy ecosystem. The selected projects are expected to contribute significantly to the country’s renewable energy targets and create opportunities for stakeholders in the renewable energy sector.