3 developers call off NTPC’s solar contracts over regulatory delays
Solar power contracts of three major power plant developers with state-run NTPC Ltd have been cancelled due to delays in regulatory approvals, potentially disrupting India’s clean energy trajectory by knocking 1,400MW off it.
These firms had participated in what was the first interstate transmission system (ISTS)-connected solar auction conducted by NTPC, India’s largest power generation utility, for building power plants and supplying 2,000MW in August 2018. These bids contributed toward lowering India’s solar power tariff trajectory. While Acme Solar Holdings, Shapoorji Pallonji Infrastructure Capital Co. Ltd and New York Stock Exchange-listed Azure Power Global Ltd bid ₹2.59 per kilo-watt hour (kWh) to win contracts to build plants of 600MW, 500MW and 300MW each, respectively, SoftBank-owned SB Energy bid ₹2.60 per kWh at which it will sell solar power, to win contracts to develop 600MW.
