Greenko Group emerges as the lowest bidder for NTPC’s project

Greenko Group has emerged as the lowest bidder in the 3,000 MWh energy storage tender floated by NTPC Renewable Energy Limited (NTPC REL).

Italy-based Enel Group’s Indian arm Enel Green Power (EGP), JSW Neo Energy Limited, Hinduja Renewables Energy Private Limited, HES Infra Private Limited, and India Grid Trust (IndiGrid) were among the other companies that bid in the auction. Greenko’s lowest bid was for Rs 5 per kWh on a single cycle per day basis, with effective storage charges to be far lower than Rs 2.5 per kWh. Bid values were as high as 216 per cent, made by Hinduja Renewables Energy Private Limited and as low as 0 per cent and 12.50 per cent made by Greenko Group.