Petition for Adoption of tariff for the ISTS Grid Connected Solar Power Projects of 1200 MW with Greenshoe – EQ
Summary:
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## 📌 Case Overview
* **Petitioner:** NHPC Limited
* **Respondents:** Teerth Gopicon Ltd. & Ors.
* **Subject:** Petition under Section 63 of the Electricity Act, 2003 for **adoption of tariff** for **1200 MW ISTS-connected solar projects**, with additional capacity of **up to 1200 MW under Greenshoe Option**.
* **Date of Hearing:** 5th August 2025
* **Coram:** Chairperson Jishnu Barua & Members Ramesh Babu V., Harish Dudani, Ravinder Singh Dhillon.
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## ⚡ Background
* NHPC conducted **Tariff-Based Competitive Bidding (TBCB)** under MoP’s 2023 guidelines for 1200 MW solar projects.
* The bid also included a **Greenshoe Option**, allowing successful bidders to take on additional capacity (up to another 1200 MW).
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## 🏛️ Submissions by Petitioner
* NHPC confirmed compliance with earlier CERC directions (RoP dated 24.06.2025) via affidavit (18.07.2025).
* On **Greenshoe Option**:
* Guidelines do not explicitly mention Greenshoe, but do not prohibit it either.
* Only a **minimum offtake** is prescribed, with no maximum cap → allowing flexibility.
* Referred to **meeting with MNRE Secretary (18.07.2024)** – REIA has flexibility to determine bid size under Standard Bidding Guidelines.
* CERC has previously **permitted Greenshoe allocations** in SECI-conducted bids.
* **Allocation process:**
* All successful bidders were first offered additional capacity equal to their original allocation.
* If declined, the unaccepted capacity was re-offered to other bidders at **L1 tariff rates**.
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## ✅ Commission’s Directions
1. NHPC to file a **Rate Reasonability Certificate** on affidavit within **two weeks**.
2. Subject to this submission, **Order reserved**.
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