ACME, Juniper and Tata Power Among Winners of SJVN’s 1.5 GW Renewable Auction
The projects are required to also include energy storage facilities
ACME Cleantech Solutions, Juniper Green Energy, Tata Power Renewable Energy, Solarcraft Power India (Blupine), TEQ Green Power XVI (O2 Power), Hero Solar Energy, and ReNew Solar Power have won SJVN’s auction to supply 1,500 MW of power from interstate transmission system (ISTS)-connected renewable energy projects with energy storage across India.
ACME (250 MW), Juniper (200 MW), and Tata (200 MW) won their quoted capacities at a tariff of ₹4.38 (~$0.0526)/kWh.
The rest of the winners, ReNew (184 MW), Solarcraft (150 MW), Hero (120 MW), and TEQ (80 MW), quoted ₹4.39 (~$0.0527)/kWh.
ReNew had bid for 300 MW but was awarded 184 MW under the bucket-filling method.
The reverse auction discovered the opening L1 tariff of ₹4.55 (~$0.0546)/kWh.
SJVN awarded only 1.18 GW of the tendered 1.5 GW capacity.
SJVN floated the tender for the projects in June this year.
The tender mandated that projects must be developed on a build, own, and operate basis. Developers who had already commissioned renewable energy or storage projects or were constructing such projects with untied capacity were also allowed to bid.
The selected developers will also be responsible for getting the ISTS connectivity at their own cost, in line with applicable regulations.
SJVN has mandated only wind turbine models listed in the Revised List of Models and Manufacturers and solar modules registered in the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy must be deployed.
The declared annual capacity utilization factor (CUF) should, in no case, be less than 40%. The developer should maintain generation to achieve annual CUF within + 10% and -15% of the declared value until the end of the power purchase agreement duration of 25 years.
According to Mercom India Research, solar auctions increased 86% year-over-year (YoY) in the third quarter of 2023, and tender activity saw a 7% YoY increase.
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