PNC Infratech Secures Major Solar-Plus-Storage Project from NHPC

Hey there, finance explorers! 👋 We’ve got some exciting news from the infrastructure sector that’s shining bright on the renewable energy front. PNC Infratech Limited (PNCINFRA) has just announced a major win, securing a substantial solar power project from NHPC Limited.

PNC Infratech has emerged as the L-1 (lowest) bidder in a competitive tender floated by NHPC, bagging a 300 MW ISTS (Inter State Transmission System) Connected Solar Power Project. But here’s the really interesting part: this isn’t just any solar project! It comes bundled with a significant 150 MW / 600 MWh Energy Storage System (ESS). 🔋 This combination is a game-changer, as energy storage helps ensure a stable and reliable power supply even when the sun isn’t shining, making renewable energy more dependable for the national grid.

The project was secured through a Tariff Based Competitive Bidding (TBCB) process, with PNC Infratech quoting a tariff of Rs. 3.13 per kilowatt-hour (kWh) for the power generated. This competitive rate highlights the company’s efficiency and strategic positioning in the green energy space.

So, what’s the timeline for this massive undertaking? The company is set to achieve the Scheduled Commencement of Supply Date (SCSD) within 24 months from the effective date of the Power Purchase Agreement (PPA). Once operational, the PPA will run for a period of 25 years from the SCSD, ensuring a long-term revenue stream for PNC Infratech. This domestic project reinforces PNC Infratech’s growing footprint in India’s renewable energy landscape, contributing significantly to the nation’s clean energy goals. ☀️

This win underscores PNC Infratech’s capabilities in executing large-scale, complex infrastructure projects, especially in the rapidly expanding renewable energy sector. It’s definitely a development to keep an eye on as India pushes towards a greener future! 🚀

source: Corporate Announcement

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