BENGALURU: Acme Solar, the largest solar developer in the country, has told NTPCNSE 1.02 % that a 600 MW project it won in an auction is no longer feasible as the power purchase agreement (PPA) stands terminated in the absence of necessary regulatory approvals, and has asked the state-run power major to return its bank guarantee.
Acme had won the project in an auction conducted by NTPC last August where it quoted a tariff of Rs 2.59 per unit. Other winners in the auction for 2,000 MW of projects were Azure Power, Softbank-backed SB Energy and Shapoorji Pallonji whose tariffs were also in the range of Rs 2.59-2.60 per unit.
