The National Thermal Power Corporation (NTPC) has emerged as the lowest bidder in the auction for 500 MW of grid-connected solar projects conducted by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). With this auction, the solar tariffs in the state have stabilized around the ₹3 (~$0.04315)/kWh. The auction received a poor response as bids of only 90 MW were received for the 500 MW tender and in line with the RfS and PPA regulations, only 80% of the bids could be awarded.