IREDA declared the winners of 5 GW solar auction

The Indian Renewable Energy Development Agency (IREDA) published the winners of the auction for 5 GW of grid-connected solar projects (Tranche-III) under the Central Public Sector Undertaking (CPSU) Program (Phase-II). As reported earlier, the tender has been oversubscribed by 1,960 MW.
According to Mercom India, NTPC won the largest capacity of 1,990 MW quoting a viability gap funding (VGF) amount of an equivalent to about $61,019 per MW. SJVN won a capacity of 1,000 MW (VGF $60,707/MW). NHPC also won a capacity of 1,000 MW ($60,951/MW), NLC India won 510 MW ($60,747/MW) and Ircon International won 500 MW ($61,005/MW).
The permissible VGF limit for the tender was around $74,5 / MW, says the consultancy. »Viability Gap Finance« is a grant to support projects in order to attract investors for them.

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