Daily News Wrap-Up: SECI’s Tender for 1.5 GW ISTS-Connected Renewable Projects

REC Issues Tender for 100 MW ISTS-Connected Wind Projects

August 1, 2023


Solar Energy Corporation of India invited bids for the selection of renewable energy developers for the supply of 1.5 GW firm and dispatchable power from inter-state transmission system-connected renewable energy projects under tariff-based competitive bidding. The last date for the submission of bids is September 15, 2023. Bids will be opened on September 20. The bid processing fee is ₹1.5 million (~$18,228) + 18% GST for each project.

REC Power Development and Consultancy, a wholly owned subsidiary of REC Limited, has issued a request for the selection of wind project developers for setting up 100 MW of inter-state transmission system-connected wind power projects in India. The projects will be developed under the program for flexibility in the Generation and Scheduling of Thermal/ Hydropower Stations through bundling with Renewable Energy and Storage Power notified by the Ministry of Power and on a Build-Own-Operate basis.

NTPC Vidyut Vyapar Nigam invited bids to enlist engineering, procurement, and construction contractors to develop floating and ground-mounted solar power projects up to 10 MW. The enlistment will be valid for one year, with a provision for extending it for another year if necessary. The last day to submit the bids is August 21, 2023. Bids will be opened the next day.

The Ministry of Power introduced new guidelines for the tariff-based competitive bidding process for procurement power from grid-connected wind power projects to boost renewable capacity and meet the distribution licensee’s renewable purchase obligation. The guidelines aim to create a transparent and fair procurement framework through open competitive bidding, ensuring competitive prices and risk-sharing among stakeholders to enhance project bankability and investor returns.

The Central Electricity Authority released guidelines for state utilities to create medium and long-term projections to evaluate the country’s electricity demand. According to the guidelines, the objective of the forecast must be to encompass electricity demand projections for the utility system. It should also encompass the entire power consumption, including the demand met by distributed power sources such as captive power projects and rooftop solar installations. This approach is expected to enable the emergence of a comprehensive picture of the power sector.

 Maharashtra Electricity Regulatory Commission has allowed Pimpri Chinchwad Municipal Corporation to procure power through open access from a waste-to-energy plant developed by Antony Lara Renewable Energy without cross-subsidy surcharges and additional surcharges. The permission was granted per the regulation outlined in Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules, 2022.

Renewable energy company Adani Green Energy has generated revenue of ₹20.59 billion (~$250.36 million) from the sale of energy in the first quarter (Q1) of the financial year (FY) 2024, a 55% year-over-year increase (YoY) from ₹13.28 billion (~$165.11 million). The company’s cash profit for Q1 FY24 stood at ₹10.51 billion (~$127.79 million), an increase of 55% YoY. The earnings before interest, taxes, depreciation, and amortization from the power supply for the April to June period was ₹19.38 billion (~$235.64 million), a YoY increase of 53%.

Since its launch on June 1, 2023, the unified registration portal for GOBARdhan has witnessed an influx of registrations from functional, under-construction, and yet-to-start Biogas/Compressed Biogas (CBG) plants across India. The government said that in 60 days since its introduction, over 1,200 plants, comprising 320 CBG plants and 892 Biogas plants, have been registered on the portal. More than 100 under-construction CBG plants were registered soon after its launch. The development spans 450 districts, encompassing a broad geographical reach.

Mufin Green Finance, a listed Non-Banking Financial Company dedicated to electric vehicle financing, secured ₹80 million (~$972,585) in funding from Shell Foundation, a UK-registered charity. The funding from Shell Foundation will help Mufin Green Finance leverage approximately $40-60 million in commercial debt over five years through recycling the de-risking pool. The fund raised will enable Mufin to provide financing for around 42,000 EVs, offering over 210 million rides to low-income groups and reducing 0.37 million tons of CO2 emissions over five years.

In a bid to cut down the long queues of renewable energy projects awaiting interconnection to the nation’s transmission grid, the United States Federal Energy Regulatory Commission has taken steps to streamline the process. The measures are expected to ease the process for transmission providers, ensure better timing and cost certainty to interconnection customers, and prevent undue discrimination against new power generation sources.