NTPC Renewables Energy has made the winning bid under the National Green Hydrogen Mission’s SIGHT Programme to supply 70,000 tonnes of green ammonia annually to Krishana Phoschem’s Meghnagar fertiliser plant at a “record-low” price.

H2 View understands that the ₹51.8/kg ($591.25/tonne) bid came in significantly below the Mode 2A SIGHT Scheme Tranche-II starting price of ₹74.30/kg ($0.89/kg).

The SECI praised coordinated government vision, industry commitment and smart auction design as key enablers to accelerating the nation’s green hydrogen economy.

“With robust payment security mechanisms in place and assured offtake, the scheme is unlocking confidence across the value chain,” it said in an online statement.

“The green hydrogen industry is responding with enthusiasm, and India’s ambitions are moving full steam ahead, or should we say, full hydrogen ahead.”

The second auction marks a sharp drop in green ammonia prices within just a month.

At the end of July, Acme Cleantech won India’s first hydrogen-based ammonia auction under SECI’s SIGHT Scheme (Mode-2A, Tranche-I), securing a contract to supply 75,000 tonnes per year to Paradeep Phosphates in Odisha at ₹55.75/kg ($0.64/kg).

The 7% drop across just two tranches could point to rapid cost compression and growing market confidence in India’s green ammonia sector.

With prices now approaching $0.59/kg, green ammonia is edging closer to cost parity with grey ammonia, which reportedly averaged $515/tonne ($0.515/kg) in March.

The SECI is expected to conduct a series of up to 13 auctions under the Mode-2A scheme, targeting over 700,000 tonnes per year of green ammonia procurement.