BluPine and ACME Secure Order in RUVNL’s 1200 MW Solar Power with Storage Auction Tender in India
BluPine Energy secured 100 MW with a competitive tariff of INR 6.68/kWh, while ACME Solar concluded 500 MW out of the 600 MW initially quoted, at a tariff of INR 6.69/kWh.
August 10, 2023. By EI News Network
The auction intended at installing 1,200 MW of solar power projects throughout India, finishing with an energy storage system capable of supplying power for a minimum of six hours during peak demand periods.
BluPine Energy secured 100 MW with a competitive tariff of INR 6.68/kWh, while ACME Solar concluded 500 MW out of the 600 MW initially quoted, at a tariff of INR 6.69/kWh. The relatively escalated tariffs are featured in the inclusion of the energy storage component.
The tender was issued by RUVNL in March of the present year, with the intent of fulfilling the firm’s renewable purchase obligation targets. As part of the venture, producers are mandated to deliver up to 3 MWh of energy per 1 MW of contracted capacity during peak time periods.
The projects must be effortlessly amalgamated into the interstate transmission system (ISTS), with the onus of securing ISTS connectivity implementation with the developers. Over the tenure of the 25-year power purchase agreement (PPA), developers must maintain an annual energy supply ensuring a capacity utilization factor (CUF) between 90 percent and 120 percent of the declared value.
Additionally, the solar modules used in these projects are needed to carry warranties for peak output wattage, ascertaining a minimum of 90 percent retention after ten years and 80 percent after 25 years.
ACME Cleantech Solutions Pvt. Ltd. known as the ACME Group, is global sustainable and renewable energy company. The company was founded by Manoj K. Upadhyay in 2003 and it is based at Gurugram, Haryana in India.
BluPine Energy is a renewable energy services firm started in India by Actis, a global investor and world leader in funding and building sustainable infrastructure companies. With an outlay of USD 800 million from Actis’ Energy Fund 5, BluPine Energy is to develop a 4+GW renewable energy portfolio, majorly in India.
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