SJVN Announces Winners for 1500 MW ISTS Renewable Energy Tender
ACME Cleantech Solutions secured the highest capacity in the tender, winning a substantial 250 MW.
November 08, 2023. By News Bureau
ACME Cleantech Solutions secured the highest capacity in the tender, winning a substantial 250 MW, whereas Juniper Green Energy and Tata Power Renewable Energy both secured 200 MW capacity each in the tender. Notably, all three companies secured their capacities at an attractive tariff rate of INR 4.38 per KWh.
The bids submitted by the winning companies are considered competitive, especially when compared to previous tenders. In April 2023, a 1200 MW hybrid project awarded by SECI witnessed tariff bids ranging from INR 4.64 to 4.73 per KWh. In contrast, in December of the previous year, MSEDCL discovered a substantially higher tariff of INR 9 per KWh for a 250 MW solar plus storage tender.
ReNew Solar Power, which had initially bid for 300 MW, secured 184 MW using the bucket-filling method. Solarcraft Power India won 150 MW, and Hero Solar Energy was awarded 120 MW. TEQ Green Power XVI, an arm of 02 Power, secured 80 MW. All of these capacities were secured at a tariff rate of INR 4.39 per KWh.
During the reverse auction process, the lowest tariff discovered during the opening was INR 4.55 per KWh. It's noteworthy that only 1.18 GW of the tender's total capacity of 1.5 GW has been awarded by SJVN Limited. This suggests the potential for further opportunities in the future.
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