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Integrated energy solutions provider <keyword id="19967264" type="General" weightage="20" keywordseo="apraava-energy" source="keywords">Apraava Energy</keyword> on Thursday said it has secured a 300 MW <keyword id="400441" type="General" weightage="20" keywordseo="solar-project" source="Orion">solar project</keyword> from state-owned power giant <keyword id="19903558" type="General" weightage="20" keywordseo="ntpc" source="keywords">NTPC</keyword>. The project will be set up in <keyword id="6355588" type="General" weightage="20" keywordseo="rajasthan" source="Orion">Rajasthan</keyword>, within a scheduled completion period of 24 months. It was secured through an e-reverse auction mechanism at a tariff of Rs 2.65 per kWh, a company statement said. <keyword id="20149601" type="General" weightage="20" keywordseo="apraava" source="keywords">Apraava</keyword> Energy has signed a Power Purchase Agreement (PPA) with NTPC Ltd for a 300 megawatt (MW) <keyword id="6357019" type="General" weightage="100" keywordseo="solar-energy" source="Orion">solar energy</keyword> project connected to the Interstate Transmission System (ISTS), according to the statement. This project further strengthens Apraava's presence in Rajasthan, following its maiden 250 MW greenfield solar project announced in January 2024, secured through NHPC. Apart from these two solar assets, Rajasthan also hosts Apraava's three existing wind projects with a combined capacity of 253.6 MW, along with three under-construction transmission projects. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, "We are excited to add our largest solar project to date into our growing <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> (RE) portfolio." The bid is part of the solar tender issued by NTPC for setting up 1,500 MW ISTS-connected Solar PV Power Projects anywhere in India. The PPA between NTPC and Apraava Energy is for a period of 25 years from the scheduled commencement of the supply date. As part of the agreement, Apraava Energy will be responsible for building, owning, and operating the project for the PPA tenure. The company's current operational portfolio of RE (solar and wind) stands at 1,420 MW, with projects spread across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana, and Karnataka. In addition, Apraava has 900 MW of RE projects under construction.

Apraava Energy secures 300 MW solar project from NTPC

<keyword id="6355588" type="ORGANIZATION" weightage="100" keywordseo="Rajasthan">Rajasthan</keyword>, the desert state of India, emerged as the most attractive solar project destination in the country during the latest NTPC auction, which saw the winning bids falling to Rs 4.35-4.36 per kwH. 
 
There were 130 MW put up for auction, out of which 50 MW was won by Shapoorji Pallonji Infrastructure Capital and 60 MW by Mahindra Susten, while the remaining 20 MW was won by Prayatna Developers of the Adani Group. Both these companies offered to sell electricity produced from their projects at same price of Rs 4.35 per kwH, and Prayatna Developers’ offer was at Rs 4.36 per kwH. 
 
Also read: <a href="http://www.businessinsider.in/india-solar-power-tariff/articleshow/53115610.cms">Here’s why India can never afford solar power at Rs 2.2 per unit, but Dubai can</a> 
 
These reverse auctions see the developer offering to sell electricity at the lowest price winning the auction. The last NTPC auction in Rajasthan saw Fortum Finnsurya winning a 70 MW project by bidding Rs 4.34 per kwH. However, in that auction, the land for the project was ensured at the Bhadla Solar Park in Jodhpur district, with the highest solar radiation in India. 
 
This time around, the winners are not being given any land. Instead, developers will find and develop the land themselves, probably the reason behind marginally higher tariffs. 
 
Also read: <a href="http://www.businessinsider.in/World-Bank-to-lend-1-billion-to-India/articleshow/52988966.cms">World Bank will lend India $1 billion for Modi's solar goals</a> 
 
This year has not seen too many developers taking interest in these auctions, with the Gujarat auction of 160 MW of capacity, which was held in late-June, drawing only three bidders. However, in the latest Rajasthan auction, the developers seem to have shed those apprehensions with 21 developers, including many of the top names in the business, taking part in it. 
 
Also read: <a href="http://www.businessinsider.in/renewable-energy-projects-finance/articleshow/52741905.cms">Your renewable energy projects could get easily financed and that too at low interest rates</a> 
 
The reason could be cited to Rajasthan's inherent solar advantage, because of the high radiation that the state receives. The developers’ interest in this recent auction also shows that along with tariff, it also crucially depends on the project locations. 
 
<a href="http://www.eai.in/wp-content/uploads/2012/07/100_1759.jpg">Image source</a>

Rajasthan shines as India's most attractive solar project destination in NTPC auction

The latest auction for <keyword id="917856" type="UNKNOWN" weightage="100" keywordseo="solar-energy-projects">solar energy projects</keyword> has been won by <keyword id="45417" type="COMPANY" weightage="100" keywordseo="Adani-Power">Adani Power</keyword> and <keyword id="198744" type="COMPANY" weightage="100" keywordseo="Azure-Power">Azure Power</keyword> with bids of Rs 4.78 per unit, which is higher than the record low of Rs 4.34 set earlier this month. 
 <keyword id="3221043" type="UNKNOWN" weightage="100" keywordseo="Prayatna-Developers">Prayatna Developers</keyword>, which is a subsidiary of Adani Power, and Azure Power India have been allotted equal shares of 50 mw at the same price. 
 
In the last three auctions, winners had quoted lower tariffs. While two of them were for projects that were offered by NTPC in Rajasthan and Andhra Pradesh, the other was for a project that was offered by Solar Energy Corporation of India in Maharashtra. 
The Rajasthan bid set a record for being the lowest bid at Rs 4.34 per kWh, while the Maharashtra and Andhra Pradesh ones were Rs 4.41 and Rs 4.63, respectively. 
 
Another difference between these projects is that in UP, developers will have to acquire land for projects, while in Rajasthan and Andhra Pradesh, they will be allotted lands in solar parks. 
 
"The Uttar Pradesh tender was a relatively small one of 100 mw with maximum capacity per bidder of only 50 mw. The tariff for Uttar Pradesh is higher because of the smaller project size and also due to lower solar radiation in the state compared to Andhra Pradesh, Rajasthan or Maharashtra. Adjusted for these factors, the tariffs are as aggressive as we have seen elsewhere. We expect stability in the market in the near future with tariffs staying in the Rs 4.50-4.75 range for central government tenders," Vinay Rustagi, managing director of solar consultancy Bridge to India, told ET. 
 
On the bigger front, India is aggressively expanding its solar power portfolio, which is visible from the plans to add 1 lakh mw of projects to promote green energy. It is also in the forefront of a global push towards green energy. 
 On Monday itself, Indian Prime Minister Narendra Modi and French President Francois Hollande came together to inaugurate the interim Secretariat of the International Solar Alliance at the <keyword id="1853234" type="UNKNOWN" weightage="100" keywordseo="National-Institute-of-Solar-Energy">National Institute of Solar Energy</keyword> (<keyword id="4037094" type="COMPANY" weightage="100" keywordseo="NISE">NISE</keyword>), located in Gurgaon. This solar alliance would bring together 121 countries for green energy projects. 
 
<a href="http://solarlife.co.in/images/fraction-slider/solarPanelOnBuilding.jpg">Image source</a>

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Apraava Energy secures 300 MW solar project from NTPC

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Rajasthan shines as India's most attractive solar project destination in NTPC auction

Solar projects bids in Uttar Pradesh go to Adani Power and Azure Power

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