PNC Infratech Wins 300 MW Solar Plus Storage Project At ₹3.13/kWh, Secures 25-Year PPA With NHPC

PNC Infratech Ltd has emerged as one of the lowest bidders in NHPC’s Tranche-XI auction for solar-plus-storage projects, securing a 300 MW Inter-State Transmission System (ISTS)-connected solar power project with a 150 MW/600 MWh Energy Storage System (ESS). The project was awarded through a competitive reverse auction held on July 15, 2025.

Key Project Details

- The quoted tariff is ₹3.13 per kWh, ensuring long-term viability and competitive pricing  
- The Power Purchase Agreement (PPA) will span 25 years from the Scheduled Commencement of Supply Date (SCSD)  
- SCSD is set for 24 months from the effective date of the PPA, placing commissioning around mid-2027  
- The project is part of NHPC’s 1,200 MW ISTS solar tender with 600 MW/2,400 MWh ESS, aimed at enhancing grid reliability  

Strategic Significance

- The win marks PNC Infratech’s formal entry into utility-scale renewable energy and energy storage  
- The ESS component will enable peak load management and improve dispatchability of solar power  
- The project will be developed on a build-own-operate basis, with compliance to CERC and MNRE norms  
- PNC confirmed that the order is not a related party transaction and was secured at arm’s length  

Outlook

This milestone positions PNC Infratech to diversify beyond traditional infrastructure into clean energy, aligning with India’s 500 GW non-fossil target by 2030. The long-term PPA ensures predictable cash flows and strengthens its renewable portfolio.

Sources: Moneycontrol, Energetica India, Kalpa Power, NHPC Tender Filings