NHPC conducts e-reverse auction for 2,000 MW grid connected solar project

State-owned hydropower major NHPC on Friday said it conducted an e-reverse auction for a 2,000 mega watt (MW) grid-connected solar project.

"NHPC conducted the e-reverse auction on April 16, 2020 for the 2,000 MW grid-connected solar PV project to be set up anywhere in India in presence of NHPC CMD A K Singh and NHPC Director (Technical) Y K Chaubey," the company said in a statement.

The e-reverse auction (e-RA), NHPC said, was conducted amongst seven bidders with an aggregate capacity of 3,140 MW.

"Against the total allocated capacity of 2,000 MW, lowest e-RA tariff of Rs 2.55/- unit to Rs 2.56/- unit was achieved against the initial quoted tariff of Rs 2.71/- unit to Rs 2.78/ unit," the company said without divulging further details.