NHPC conducts e-reverse Auction for the 2000 MW Grid Connected Solar PV Project

New Delhi: NHPC, a CPSU under Union Ministry of Power successfully conducted the e-reverse Auction(ERA) on 16.04.2020 for the 2000 MW Grid Connected Solar PV Project to be set up anywhere in India. The auction was held in presence of Shri A.K Singh, CMD, NHPC and Shri Y.K. Chaubey, Director (Technical).

In a tweet, Shri R. K. Singh, the Union minister of Power and New & Renewable Energy, said, “Bid for setting up 2000 MW of solar generation capacity was finalized by NHPC, a CPSU under the Ministry of Power, at a competitive tariff of Rs. 2.55 /2.56 per unit. During lockdown we kept our interaction with stakeholders alive throughvirtual platforms and also brought out new bids.” Shri Singh further said in his tweet that this tariff is the result of several measures which we have undertaken during the past few months to enhance confidence of investors and to promote ease of doing business. We stand committed to minimizing the risk to investors.

The E-RA was conducted amongst 7 bidders with aggregate capacity of 3140 MW. Against the total allocated capacity of 2000 MW, lowest e-RA tariff of Rs 2.55/unit to Rs 2.56/ unit was achieved against the initial quoted tariff of Rs 2.71/ unit to Rs 2.78/ unit. Inspite of complete lockdown in India due to Covid – 19, NHPC successfully completed the E-Reverse Auction.