NHPC conducts e-reverse auction for 2000 MW solar project amid lockdown

Hydro power major NHPC has successfully bid out 2000 MW of solar generation capacity at a competitive tariff of Rs. 2.55/2.56 per unit at a time businesses are struggling due to the lockdown.

The bidding was undertaken on April 16 under the e-reverse auction method where the bidder quoting the lowest tariff is awarded the project.

In a tweet earlier, 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 through virtual platforms and also brought out new bids.”