Daily News Wrap-Up: SJVN’s 1.5 GW Wind-Solar Auction Result

SECI invited bids to develop 1,200 MW wind-solar hybrid power projects

February 21, 2024


Juniper Green Energy, Datta Power Infra, Green Infra Wind Energy (Sembcorp), Energizent Power (O2 Power), Green Prairie Energy (EverGreen Power), and Avaada Energy were declared winners in SJVN’s auction to develop 1.5 GW Inter-State Transmission system-connected wind-solar hybrid power projects in India. Juniper Green Energy quoted the lowest tariff of ₹3.43 (~$0.0413)/kWh to win 150 MW, while Datta Power Infra won 50 MW by quoting the second lowest tariff of ₹3.47 (~$0.0418)/kWh.

The Solar Energy Corporation of India has invited bids to develop 1,200 MW of interstate transmission system-connected wind-solar hybrid power projects (Tranche VIII) in the country. The projects must be commissioned within 24 months of the power purchase agreement (PPA) signing date. The last day to submit the bids is March 29, 2024. Bids will be opened on April 3.

The Central Electricity Regulatory Commission has authorized a shadow pilot on power systems and cost optimization through a market coupling of various segments of all three energy exchanges – Indian Energy Exchange, Power Exchange India, and Hindustan Power Exchange. The shadow pilot will include three coupling methods – coupling of the Real-Time Market (RTM) segments across the three power exchanges, coupling of the RTM and Security Constrained Economic Dispatch segments, and coupling of the Day-Ahead Market of the three power exchanges for four months.

Residential rooftop solar applications submitted before February 13, 2024, will not be applicable for central financial assistance under the new PM Surya Ghar: Muft Bijli Yojana, the Ministry of New and Renewable Energy has said. Under the new program announced by Prime Minister Narendra Modi recently, a subsidy of ₹30,000 (~$361)/kW will be provided for residential rooftop solar systems up to 2 kW for applications submitted after February 13, 2024.

Grid Corporation of Odisha has invited bids to source land from land owners and aggregators for either lease or sale to project developers for setting up solar power projects in Odisha. The land offered must have a minimum size of 20 acres (calculated at an assumed rate of 4-5 acres/MW) and should be located in close proximity to a specific DISCOM/OPTCL substation. The last date for submission of bids is March 2, 2024. Bids will be opened on the next day.

Hyderabad-based electric vehicle (EV) manufacturer Pure EV has secured $8 million in the latest round of funding to help the company expand its sales network in India from 140 to 300 dealers in the next six months. The funding was led by Benett Coleman and Company (BCCL), Hindustan Times Media Ventures, Ushodaya Enterprises, existing investors, and high net-worth individuals. Pure EV is in the final stages of concluding Series A1 funding amounting to $25 million.

In Rajasthan, where the promise of renewable energy seems boundless, hurdles have emerged in the path of progress where a significant capacity of open access solar projects in the pipeline are at a standstill. In the third quarter of 2023, when the open access installations in India surged by 36% quarter-over-quarter to 907 MW, Rajasthan ranked fifth for installations behind Maharashtra, Karnataka, Tamil Nadu, and Gujarat. The bottlenecks have cast a shadow over the ambitious plans to harness Rajasthan’s vast renewable energy potential.

The Ministry of Power has instructed state electricity regulatory commissions (SERCs) to comply with the Electricity (Promoting Renewable Energy Through Green Energy Open Access) Rules and align their states’ Open Access Regulations with the notified rules and all the amendments. SERCs have been directed to submit their compliance status by February 27, 2024.