Mytrah Energy Wins 300MW in 1200MW Bid from National Thermal Power Corporation Limited (NTPC)
Mytrah won in the first ISTS (Inter-State Transmission System) wind bid conducted by the NTPC
Hyderabad: Mytrah Energy (India) Pvt. Ltd. (MEIPL), a leading independent renewable power producer of India, has emerged as one of the winners of the 1200MW bid conducted by National Thermal Power Corporation Limited (NTPC), India’s largest power utility.
Mytrah quoted a tariff of INR 2.79 per unit under the reverse e-Auction and won the bid for a capacity of 300 MW in the first ISTS (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 Pvt. Ltd with 50 MW at INR 2.80, Fasten Power Pvt. Ltd with 50 MW (out of 300 MW) at INR 2.83, Sprng Vayu Vidyut Pvt. Ltd with 200 MW of capacity at INR 2.77. ReNew Wind Energy at INR 2.81 and Hero Wind Energy Pvt Ltd at INR 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.
About Mytrah:
Mytrah Energy (India) Private Limited is one of India’s leading renewable Independent Power Producers and a pioneer in this space. The company has over 40 projects (operational and under-development) in the wind and solar power segments across nine Indian states (Punjab, Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka and Tamil Nadu) with an aggregate capacity of 2.2 GW. The company also has a fast-growing portfolio of rooftop solar projects across the country. Mytrah has pioneered the adoption of technology across the entire renewable power development and generation value chain, be it by building the country’s largest wind data bank using over 200 wind mast locations pan-India, or by driving efficient management of power assets through its state-of-the-art Generation Management Centre. As India’s Smart Utility, Mytrah leverages its robust end-to-end capabilities ranging from site selection to financing, procurement, project execution and asset management, to efficiently generate clean power from its portfolio of renewable power assets.
