Published On:August 22 2018
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Mytrah Energy wins 300MW in 1200MW bid from NTPC







Renewable energy company Mytrah Energy (India) has emerged as one of the winners of the 1200 MW bid conducted by National Thermal Power Corporation Limited (NTPC).



Mytrah quoted a tariff of ₹2.79 per unit under the reverse e-auction and won the bid for a capacity of 300 MW in the first Inter-State Transmission System wind bids conducted by NTPC.



Vikram Kailas, VC & MD of Mytrah Energy, said, “This project is one more milestone in our continuing journey to achieve a robust, well-diversified power generation footprint in the Indian renewable power generation sector. It also proves that Mytrah is well positioned to add to its portfolio of assets at competitive tariffs that provide meaningful returns to all its stakeholders.”



A total of seven companies participated in the reverse auction, collectively submitting bids for a cumulative capacity of 1750 MW.



Other winners are Srijan Energy Systems with 50 MW at ₹2.80, Fasten Power with 50 MW (out of 300 MW) at ₹2.83, Sprng Vasu Vidyut with 200 MW of capacity at ₹2.77. ReNew Wind Energy at ₹2.81 and Hero Wind Energy at ₹2.82 won 300 MW respectively.



The original capacity for the auction was 2000MW of wind power supply, which was subsequently reduced to 1200MW.



The letter of agreement will be issued by NTPC by mid-September 2018, followed by the signing of a power purchase agreement. The project shall be commissioned within 18 months from the signing date of the agreement.



Mytrah Energy (India) has over 40 projects (operational and under-development) in the wind and solar power segments across nine Indian states with an aggregate capacity of 2.2 GW. The company also has a portfolio of rooftop solar projects across the country.



Source: Business Line











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