Home / Industry / Energy /  Six companies win NTPC solar projects in Karnataka

New Delhi: Six companies won bids to set up solar power projects of 500 megawatts (MW) capacity at a solar park in Karnataka. They quoted tariffs in the range of 4.78-4.80 per unit in an auction held on Tuesday, a spokesperson for NTPC said on Wednesday.

Four firms won bids for setting up 100MW units each at a tariff of 4.79 a unit and two 50 MW capacity units were auctioned at a tariff of 4.78 and 4.80 respectively for the power projects to be built at the National Thermal Power Corporation (NTPC) solar park at Pavagada in Tumkur district, Karnataka.

This, however, is above the tariff of 4.34 a unit at which Fortum Oyj of Finland had won a 70 MW plant in NTPC’s solar park at Jodhpur in Rajasthan in January. In Tuesday’s auction, Fortum won 100 MW capacity at 4.79 per unit for 25 years, the company stated.

NTPC, which is in the process of setting up 1,000 MW renewable power by 2017, already has commissioned 110 MW of solar power capacity. It is in the process of setting up another 15 MW solar and 8 MW small hydro power capacity.

Manoj Kumar Upadhyay, chairman, ACME Group, said his company won a 100 MW capacity at the solar park in Karnataka at 4.79 a unit.

“In order to get the footprints all over the country, it was important for us to have a presence in Karnataka. We are happy that we have secured this tender and have managed to get it at the right price– a price we are comfortable at," the company quoted Upadhyay as saying.

Fortum India managing director Sanjay Aggarwal said solar power has always been a focus area for Fortum in India. “Fortum seeks to allocate planned growth capital in the range of €200-400 million in solar projects in India", a company statement said quoting Aggarwal.

A Press Trust of India report said RattanIndia arm Yarrow Infrastructure Ltd quoted the lowest price of 4.78 per unit and bagged a 50 MW project.

Adani Power and Tata Power Renewable quoted a price of 4.79 per unit and bagged 100 MW each, it said.


Gireesh Chandra Prasad

Gireesh has over 22 years of experience in business journalism covering diverse aspects of the economy, including finance, taxation, energy, aviation, corporate and bankruptcy laws, accounting and auditing.
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