Greenko, ReNew Power Bags SECI’s Wind-Solar Hybrid-Storage Tender worth 1.2 GW

The Greenko Group has been presented 900 MW capacity in the tender after submitting a bid at a peak power tariff rate of Rs 6.12/ kWh While ReNew Power has been awarded 300 MW capacity of projects after submitting bids with a peak power tariff of Rs 6.85/ kWh

February 01, 2020. By News Bureau

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The Greenko Group and ReNew Power have secured with their bids in the Solar Energy Corporation of India’s (SECI) 1.2 GW wind-solar hybrid power projects with energy storage tender and assured peak power supply.

The Greenko Group has been presented 900 MW capacity in the tender after submitting a bid at a peak power tariff rate of Rs 6.12/ kWh While ReNew Power has been awarded 300 MW capacity of projects after submitting bids with a peak power tariff of Rs 6.85/ kWh.

In August, the nodal agency had issued the tender for setting up of 1200 MW ISTS-connected Renewable Energy (RE) projects on a Build-Own-Operate (BOO) basis with assured peak power supply in India. (ISTS-VII)

The scope of work for the selected bidders will include the design, supply, engineering, construction, installation, testing, and commissioning of renewable energy projects. Additionally, land, connectivity and long term open access will also be in the scope of the hybrid power developer.

One of the vital objectives for the issuance of the tender was that in spite of RE power ranked second in terms of total installed capacity in India, owing to their intermittent and infirm resource-centric nature, renewables have not been able to replace conventional power to fulfill peak load demand of Discoms. RE capacity deployment will continue to dominate the energy mix as the deployment of conventional sources are not commercially and environmentally viable options.

Further, increased electrification and reduced load shedding by Discoms have resulted in a steep increase in the peak energy demand, which is currently met by the Discoms at significantly higher costs. The above scenario thus indicates RE power to be flexible and firm in nature to become a prime resource to bridge this demand-supply gap. The short term target is, therefore, to achieve a paradigm shift in the energy mix in the country, and push for RE with storage technologies becoming one of the key resources to meet peak demand during morning and evening hours. It will result in making available firm, dispatchable RE power, meeting the demand pattern of Discoms during peak hours, and that too, at competitive tariff.

SECI shall enter into a Power Purchase Agreement (PPA) with the successful bidder(s) selected based on this RfS for purchase of power for a period of 25 years based on the terms, conditions and provisions of the RfS.

The power procured by SECI from the above projects has been provisioned to be sold to the different buying Utilities of India. Projects selected under this RfS shall be eligible for two-part tariffs. These shall be referred to as “Peak Tariff” and “Off-Peak Tariff” as defined in the RfS. Energy generated during the Off-Peak Hours shall be eligible for a flat tariff payment @ Rs. 2.70/kWh, i.e. the Off-Peak Tariff. Energy generated during the Peak Hours shall be purchased at the tariff discovered through e-Reverse Auction as per this RfS, i.e. the Peak tariff.

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