TBEA, a Chinese manufacturer of power transformers and other electrical equipment, has bagged 300 MW of solar projects in the 1.2 GW auction conducted by the National Thermal Power Corporation (NTPC).

A TBEA spokesperson told Mercom that while bidding for the project, TBEA offered a tariff rate of ₹2.63 (~$0.037)/ kWh for 300 MW of solar projects while SB Energy quoted the tariff of ₹2.65 (~$0.037)/ kWh.

With this win, TBEA ventures, known for supplying solar inverters, has set out as a solar independent power producer (IPP) in the Indian renewable energy market.

In August 2019, Mercom had reported that the NTPC had issued a tender to set up 1.2 GW of the interstate transmission system (ISTS)-connected solar projects.

The technical bids for the tender were opened on September 30, 2019. Out of the 1.2 GW, bids were received only for 600 MW. TBEA and SB energy bid for 300 MW of solar projects each.

“As per the reverse auction, only one bidder could win the bid for a capacity of 300 MW of solar projects after the auction. TBEA emerged as the winner with 300 MW at the tariff rate of ₹2.63 (~$0.037)/ kWh”, said the company spokesperson.

According to the company statement, “The tariff offered by TBEA Solar, in the wake of current scenarios, seems to be competitive analyzing the previously concluded bid of Solar Energy Corporation of India (SECI) where the maximum capacity was allotted at ₹2.65 (~$0.037)/kWh and with the fact that SECI has increased the ceiling tariff to ₹2.78/kWh (~$0.039)/ kWh in its recent solar ISTS tender.”

Previously, the lowest (L1) tariff of ₹2.59 (~$0.0372)/kWh was quoted in the auction held by NTPC to develop 2 GW of solar photovoltaic projects. ACME Solar had quoted the lowest tariff of ₹2.59 (~$0.0372)/kWh to develop 600 MW. Shapoorji Pallonji and Azure Power matched the L1 tariff to develop 500 MW and 300 MW, respectively.

Of late, the NTPC has issued numerous tenders that have not received the anticipated response from the bidders.

Recently, the NTPC had extendedthe bid submission deadline for 1,000 MW of solar projects under the Central Public Sector Undertaking Program Phase II, Tranche-1.

Before this, the company had to extend the bid submission deadline for its 1.2 GW solar tender in western India after an upper tariff cap set by the NTPC failed to attract bidders.

According to Mercom’s India Solar Project Tracker, NTPC has ~870 MW of large-scale solar projects in operation.