Indian solar prices at 2.59 rupees in 2GW NTPC auction

Facebook
Twitter
LinkedIn
Reddit
Email
NTPC gave bidders an extra week to work the safeguard duty into their bidding calculations before holding the auction. Credit: NTPC

The lowest bid quoted in Indian state-run utility NTPC’s auction for 2GW of interstate transmission system (ISTS)-connected solar was INR2.59/kWh (US$0.037).

The L1 bid from Acme Solar for 600MW marks a 15 paisa rise from its previous low bid of 2.44 rupees for the 2GW ISTS auction held by Solar Energy Corporation of India (SECI) on 3 July, where six bidders overall had been happy to bid at 2.54 rupees or lower – before the implementation of the safeguard duty on cell and module imports that has now also been temporarily deferred.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Today, Shapoorji Pallonji and Azure Power also matched the L1 tariff for 500MW and 300MW capacity respectively, while SB Energy (Softbank) won only 600MW despite bidding for the full 2GW as it quoted a slightly higher tariff of 2.6 rupees.

The results were as follows:

Bidder Tariff (INR/kWh) Capacity (MW)
Acme 2.59 600
Shapoorji Pallonji 2.59 500
Azure Power 2.59 300
SB Energy 2.60 600

In a tender that had been heavily oversubscribed, Aditya Birla, Mahoba Solar (Adani), Eden, Rutherford Solarfarms (Canadian Solar), Tata Power Renewable Energy, Giriraj, Alfanar, Mahindra, Hero, ReNew, and Nisagra all missed out on capacity.

After the safeguard duty imposition, NTPC gave bidders an extra week to work the duty into their bidding calculations before holding the auction.

NTPC's most recent 750MW solar auction drew winning bids of  INR2.72-2.73/kWh, but these were specific to the state of Andhra Pradesh rather than ISTS-connected projects, which can be placed anywhere in India.

Read Next

July 8, 2025
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
July 8, 2025
Energy consultancy JMK Research has forecast 28.3GW of utility-scale and residential solar PV to be installed in India during fiscal year 2026.
July 8, 2025
SJVN Green Energy has commenced commercial operations of 100.02MW from its 1,000MW solar power project in Bikaner, Rajasthan.
July 7, 2025
ReNew has received a non-binding final acquisition offer from a consortium at US$8 per share, which is 13.2% more than their earlier offer.
June 27, 2025
Indian solar manufacturer Premier Energies has commissioned its 1.2GW TOPCon solar cell manufacturing line at Fab City, Hyderabad, Telangana.
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK