PNC Infratech Bags 25-Year NHPC Solar PPA: Investor Takeaways

Deal Overview PNC Infratech Limited has been declared the lowest (L1) bidder by NHPC Ltd. for a 300 MW ISTS-connected solar power project paired with a 150 MW/600 MWh energy storage system (ESS). The contract was awarded under a tariff-based competitive bidding route at a quoted tariff of ₹3.13 per kilowatt-hour. Key Project Details Capacity :-300 MW ISTS-connected solar Energy Storage :-150 MW / 600 MWh ESS Quoted Tariff:- ₹3.13 per kWh Bidding Route :-Tariff-Based Competitive Bidding via online reverse auction on 15 July 2025 Execution Timeline:-Scheduled Commencement of Supply within 24 months of the PPA’s effective date PPA Duration:- 25 years from the Scheduled Commencement of Supply Date Related-Party Transaction Status:-None – awarded at arm’s length; no promoter/group interest in NHPC Ltd. Immediate Stock Reaction Shares of PNC Infratech jumped 1.7% on the day of the announcement, settling at ₹311.25 on the BSE and outperforming the broader market.3 Strategic Implications Locks in a long-term revenue stream with a 25-year PPA. Bolsters PNC’s renewable energy portfolio and showcases execution prowess in large-scale projects. Highlights competitive cost structures by securing a sub-₹3.20/kWh tariff. Enhances corporate governance profile through an entirely arm’s-length transaction.