MNRE Seeks Feedback on Guidelines for PM-Surya Ghar Rooftop Solar Program

Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal

EU Member States Sign Solar Charter to Boost Domestic Manufacturing

Daily News Wrap-Up: NTPC’s 1 GW Wind-Solar Hybrid Auction

Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/03/amazon_polly_63989.mp3?version=1709556694">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Gurgaon-based <a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a> has expanded its renewable energy portfolio by acquiring 369 MW of solar power assets from the <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Group</a>.</p>
<p>The deal covers 14 special purpose vehicle solar projects located across Uttarakhand, Punjab, and Karnataka. With this acquisition, BluPine’s total renewable capacity has grown to 2.4 GW.</p>
<p>&#8220;Integrating these high-quality solar assets into our portfolio further solidifies our commitment to driving positive change in India&#8217;s energy sector,” said Neerav Nanavaty, CEO of BluPine Energy.</p>
<p>“Sale of 369 MW solar power assets to BluPine Energy highlights our commitment towards the long-term renewable energy power need of India. This is our second successful collaboration with them. We relied on the expertise of Actis platform for this asset sale,” said Manoj Upadhyay, Founder of ACME Group.</p>
<p>BluPine Energy, which is backed by an $800 million investment from <a href="https://www.act.is/" target="_blank" rel="noopener">Actis&#8217; Energy</a> Fund 5, aims to develop a 4+ GW renewable energy portfolio exclusively in India, providing low-carbon solutions through solar, wind, and storage assets.</p>
<p>Last month, BluPine and ACME, among other firms, were <a href="https://www.mercomindia.com/brightnight-renew-acme-win-nhpcs-renewables-auction" target="_blank" rel="noopener">declared</a> winners in NHPC’s auction to supply 1.5 GW of firm and dispatchable renewable power from inter-state transmission system-connected projects coupled with energy storage systems anywhere in India. A total of 1,400 MW capacity was awarded out of 1,500 MW.</p>
<p>Earlier, the two companies also <a href="https://www.mercomindia.com/blupine-acme-winners-ruvnls-1-2-gw-solar-storage-auction" target="_blank" rel="noopener">emerged</a> winners in Rajasthan Urja Vikas Nigam’s auction to set up 1,200 MW of solar power projects anywhere in India with a committed supply for at least six hours from an energy storage system during peak demand periods.</p>
<p>Late last year, BluPine <a href="https://www.mercomindia.com/blupine-loan-120-mw-solar-project" target="_blank" rel="noopener">announced</a> the financial closure of ₹5.11 billion (~$61.3 million) for its 120 MW solar project in Gujarat. The green loan financing for the project was secured from Standard Chartered.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/staff/" class="vcard author" rel="author"><span class="fn">Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

BluPine Energy Acquires 369 MW of Solar Assets from ACME Group


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63643.mp3?version=1708695089">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>BN Hybrid Power-1 (<a href="https://brightnightpower.com/" target="_blank" rel="noopener">BrightNight</a>), Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), Solarcraft Power India 20 (<a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a>), <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>), and <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a> were declared winners in NHPC’s auction to supply 1.5 GW of firm and dispatchable renewable power (Peak Power Supply) from inter-state transmission system (ISTS)-connected projects coupled with energy storage systems anywhere in India.</p>
<p>BN Hybrid Power-1 quoted the lowest tariff of ₹4.55 (~$0.0549)/kWh to win 120 MW, while Hero Solar and Solarcraft quoted ₹4.63 (~$0.0558)/kWh to win 100 MW and 50 MW, respectively.</p>
<p>Juniper and ReNew quoted ₹4.64 (~$0.0560)/kWh to win 200 MW and 250 MW. ACME won 680 MW out of the 750 MW quoted capacity at ₹4.64 (~$0.0560)/kWh.</p>
<p>Bids from TEQ Green Power IX (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>) of ₹4.74 (~$0.0572)/kWh for 150 MW and <a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener">Tata Power Renewable Energy</a> of ₹4.95 (~$0.0597)/kWh for 100 MW did not qualify.</p>
<p>A total of 1,400 MW capacity was awarded out of 1,500 MW.</p>
<p><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-63644" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results.png" alt="NHPC 1.5 GW FDRE Auction results" width="626" height="345" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results.png 626w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-300x165.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-624x344.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-600x331.png 600w" sizes="(max-width: 626px) 100vw, 626px" /></p>
<p>NHPC <a href="https://www.mercomindia.com/nhpc-invites-bids-for-renewable-ists-connected-projects" target="_blank" rel="noopener">floated</a> the tender for the projects in October 2023.</p>
<p>Under the tender, bidders were given the flexibility to choose any location within India for their projects. They can identify and acquire or lease the land of their choice for the project without specific restrictions on geographical location within the country.</p>
<p>The selected project developers must utilize well-established and operational technologies that are commercially viable. Making use of such established technologies is aimed at minimizing technology-related risks and ensuring the successful commissioning of the projects.</p>
<p>Projects that are already commissioned or are in the process of construction and have untied capacity are allowed under this tender. Projects with already set-up capacity or spare untied capacity that is not under any power supply agreement and is available for augmenting the proposed renewable power in the tender can also qualify.</p>
<p>The projects under this tender will not be eligible for any Central Financial Assistance.</p>
<p>NHPC recently <a href="https://www.mercomindia.com/juniper-o2-avaada-win-nhpcs-hybrid-auction" target="_blank" rel="noopener">declared</a> the winners of its auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects anywhere in India.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders and auctions issued by various agencies in India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
<a href="https://mercomindia.com/author/satish-shetty/" rel="noopener noreferrer">More articles from Satish Shetty.</a></div>
</div></div><div class="clearfix"></div></div></div>

BrightNight, ReNew, ACME Among Winners of NHPC’s 1.5 GW Renewables Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63099.mp3?version=1707735680">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Solarcraft Power India 8 (<a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a>), <a href="https://www.grtjewels.com/" target="_blank" rel="noopener">GRT Jewellers</a>, Furies Solren (<a href="https://www.mahindra.com/node/6075" target="_blank" rel="noopener">Mahindra</a>), <a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW New Energy</a>, and <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a> were declared winners in SJVN’s auction to develop 1,500 MW of inter-state transmission system (ISTS)-connected solar power projects anywhere in India.</p>
<p>Solarcraft and GRT quoted ₹2.52 (~$0.0304)/ kWh to win 300 and 150 MW, respectively. Furies and JSW won 300 MW and 700 MW, respectively, quoting ₹2.53 (~$0.0305)/ kWh.</p>
<p>NTPC quoted ₹2.54 (~$0.0306)/ kWh for 300 MW but was allotted 50 MW.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-63194 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1.png" alt="" width="718" height="303" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1.png 718w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1-300x127.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1-650x274.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1-624x263.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/1-1-600x253.png 600w" sizes="(max-width: 718px) 100vw, 718px" /></p>
<p>The tender was <a href="https://www.mercomindia.com/sjvn-1-5-gw-ists-solar-projects/" target="_blank" rel="noopener">floated</a> in November last year.</p>
<p>Selected developers must undertake to pay payment security mechanism charges at ₹0.02 (~0.00024)/kWh to SJVN by offering a commensurate discount in the monthly tariff payment being made by SJVN.</p>
<p>Bidders were required to offer a project capacity between 50 MW and 750 MW. However, for projects located in northeastern states and special category regions, the minimum capacity can be 30 MW.</p>
<p>The developer is responsible for acquiring the land for the project.</p>
<p>To minimize technological risk and ensure timely commissioning, only commercially established and operational technologies should be employed for these projects.</p>
<p>SJVN has mandated the use of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.</p>
<p>Recently, SJVN Green Energy, a subsidiary of SJVN, <a href="https://www.mercomindia.com/sjvn-green-connected-wind-solar-hybrid-projects/" target="_blank" rel="noopener">invited</a> bids to select developers to set up 1,500 MW of ISTS-connected wind and solar hybrid power projects in India.</p>
<p>Earlier, SJVN Green Energy invited bids to purchase or lease up to 1,000 acres of land in Assam for 28 years to develop 200 MW of solar power projects, including connectivity with the state transmission utility system.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real time.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

BluPine, GRT Jewellers, Mahindra, JSW, NTPC Win SJVN’s 1.5 GW Solar Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63090.mp3?version=1707481940">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Gujarat Urja Vikas Nigam (<a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a>) has announced the allocation of the 500 MW grid-connected solar power projects in Phase XXII auction under the greenshoe option at the lowest quoted tariff of ₹2.63 (~$0.0316)/kWh.</p>
<p>The projects were awarded to the successful bidders who <a href="https://www.mercomindia.com/sjvn-hinduja-avaada-blupine-guvnls-500-mw-solar-auction" target="_blank" rel="noopener">won</a> in the initial auction, and the capacities remained the same.</p>
<p><a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN Green Energy</a>, a wholly owned subsidiary of SJVN, secured 100 MW through the greenshoe option.</p>
<p>According to Mercom sources, the remaining capacity under the greenshoe option was awarded to <a href="https://www.hindujarenewables.com/" target="_blank" rel="noopener">Hinduja Renewables Energy</a> (140 MW), <a href="https://avaada.com/" target="_blank" rel="noopener">Avaada Energy</a> (100 MW), and <a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine</a> Energy (50 MW), each at L1 (lowest) tariff.</p>
<p>The total capacity auctioned was 390 MW, falling short of the initially tendered 500 MW.</p>
<p>The tender was <a href="https://www.mercomindia.com/guvnl-500-mw-solar-projects-greenshoe/" target="_blank" rel="noopener">floated</a> in November.</p>
<p>SJVN, in a statement, said that the tentative cost of construction and development of the 200 MW capacity it will be developing is ₹11 billion (~$132.54 million). The ground-mounted solar project will be developed by the company anywhere in India through engineering, procurement, and construction contracts.</p>
<p>The power purchase agreement (PPA) with GUVNL will be executed after GERC adopts the tariff.</p>
<p>The projects are scheduled to be commissioned within 18 months from the date of signing the 25-year PPA.</p>
<p>The tender specified that projects must declare an annual capacity utilization factor (CUF) of not less than 17%. The successful bidder is obligated to maintain generation to achieve an annual CUF within +10% and -15% of the declared value for the first ten years from the commercial operation date. Subsequently, the annual CUF must remain a minimum of 15% and within +10% and -20% of the declared value until the end of the 25-year PPA duration.</p>
<p>Solar modules for the projects must be warranted for peak output wattage, not falling below 90% at the end of ten years and 80% at the end of 25 years from the project&#8217;s commercial operation date.</p>
<p>GUVNL has mandated the use of solar modules from the Ministry of New and Renewable Energy&#8217;s Approved List of Models and Manufacturers.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

GUVNL Allocates 500 MW Solar Greenshoe Capacity at ₹2.63/kWh


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61455.mp3?version=1707388366">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://avaada.com/" target="_blank" rel="noopener">Avaada Energy</a>, <a href="https://sprngenergy.com/" target="_blank" rel="noopener">Sprng Energy</a>, ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>), and Solarcraft Power India 8 (<a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a>) won the Solar Energy Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to set up 1 GW of inter-state transmission system (ISTS) connected solar power projects (Tranche XII).</p>
<p>Avaada, Sprng, and ReNew won 300 MW, 250 MW, and 300 MW, respectively, by quoting ₹2.52 (~$0.0303)/kWh. Solarcraft Power India 8 quoted ₹2.53 (~$0.0304)/kWh to win 150 MW capacity.</p>
<p>The other participants in the auction who qualified but did not win any capacities were Apraava Energy, SJVN Green Energy, and NTPC Renewable Energy.</p>
<p>The tender for the project was <u><a href="https://www.mercomindia.com/seci-1-gw-ists-connected-solar-projects" target="_blank" rel="noopener">floated</a></u> in October this year.</p>
<p><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-61457" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII.png" alt="SECI 1 GW ISTS Solar Tranche XII" width="750" height="285" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII.png 750w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII-300x114.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII-650x247.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII-624x237.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/SECI-1-GW-ISTS-Solar-Tranche-XII-600x228.png 600w" sizes="(max-width: 750px) 100vw, 750px" /></p>
<p>The tariff discovered represents the second lowest solar project auction tariff this year, matching NHPC’s 3 GW ISTS-connected solar <a href="https://www.mercomindia.com/engie-avaada-jakson-mahindra-winners-nhpcs-solar-auction" target="_blank" rel="noopener">auction</a>.</p>
<p>The tariff was slightly higher than the lowest solar tariff this year at ₹2.51 (~$0.0302)/kWh <a href="https://www.mercomindia.com/sprng-ib-vogt-hinduja-blupine-win-guvnls-500-solar-auction" target="_blank" rel="noopener">discovered</a> in Gujarat Urja Vikas Nigam’s auction to supply power from 500 MW of grid-connected solar power projects (Tranche-XVIII).</p>
<p>The power procured from the projects will be sold by SECI to different entities over the 25-year power purchase agreement (PPA) period.</p>
<p>The tender had specified that selected developers must commission the projects within 24 months of the effective PPA date.</p>
<p>The modules used in the project must be from the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers.</p>
<p>The developers will be responsible for identifying land, installing the project, and acquiring ownership of it, as well as ensuring that the necessary approvals and connectivity with the ISTS network are obtained to supply power to SECI.</p>
<p>The winners for the 2 GW ISTS-connected solar projects auction under Tranche XI in July this year <a href="https://www.mercomindia.com/sael-renew-eden-jakson-winners-secis-solar-auction" target="_blank" rel="noopener">comprised</a> SAEL, ReNew, Eden Renewables, Jakson, Shiva Corporation, and Avaada Energy.</p>
<p>According to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a>, SECI has issued tenders for a total of 20.4 GW of ISTS-connected solar power projects under Tranche-I to XII.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/satish-shetty/" class="vcard author" rel="author"><span class="fn">Satish Shetty</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Satish Shetty,</strong> Associate Editor at Mercom India<br />
<a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener">More articles from Satish Shetty.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Satish-pic-1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/satish-shetty/" target="_blank" rel="noopener"><strong style="color: #00b451">Satish Shetty</strong></a> is an Associate Editor with Mercom India. Prior to Mercom, Satish was a multimedia news producer at Reuters, where he gained experience in digital news media. Satish has his Bachelor of Arts (B.A.) degree in Broadcast Journalism from Limkokwing University of Creative Technology, Malaysia.<br />
<a href="https://mercomindia.com/author/satish-shetty/" rel="noopener noreferrer">More articles from Satish Shetty.</a></div>
</div></div><div class="clearfix"></div></div></div>

Avaada, Sprng, ReNew and BluPine Win SECI’s 1 GW Solar Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61306.mp3?version=1702614029">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.mercomindia.com/blupine-loan-120-mw-solar-project/" target="_blank" rel="noopener"><strong>Renewable energy company BluPine Energy has announced the financial closure of ₹5.11 billion (~$61.3 million) for its 120 MW solar project in Gujarat.</strong></a> The green loan financing for the project was secured from Standard Chartered. The total investment for the project is valued at ₹6.65 billion (~$79.8 million). Upon completion, the project is expected to generate about 323,000 MWh of solar energy annually, offsetting an estimated 296,000 tons of CO2 and providing power to approximately 270,000 households.</p>
<p><a href="https://www.mercomindia.com/odisha-generic-tariffs-small-hydro" target="_blank" rel="noopener"><strong>Odisha Electricity Regulatory Commission has determined the generic tariff and prices for renewable energy projects, including small hydro, biomass, and non-fossil</strong></a> fuel-based co-generation power projects. The control period of the tariff will span three financial years, starting from the beginning of the financial year (FY) 2023-24 and ending at the conclusion of FY 2025-26 for all renewable power projects. For small hydroelectric projects, the control period extends from the beginning of FY 2023-24 to the end of FY 2027-28.</p>
<p><a href="https://www.mercomindia.com/india-based-kpit-unveils-ion-battery-technology/"><strong>Pune-headquartered KPIT Technologies, an autonomous software integration partner for the automotive and mobility sector, has introduced its sodium-ion battery technology</strong></a> with the aim of alleviating lithium dependency in India’s energy storage sector. The technology is anticipated to decrease reliance on imported core battery materials and boasts various applications within the automotive and mobility realms, particularly for electric two and three-wheelers and commercial vehicles.</p>
<p><strong><a href="https://www.mercomindia.com/exponent-secures-26-4-million-series-b-funding" target="_blank" rel="noopener">Bengaluru-based electric vehicle (EV) charging and battery startup Exponent Energy has raised $26.4 million in a series B funding round led by Eight Roads Ventures</a> </strong>and a strategic investment from TDK Ventures, marking their debut investment in India’s EV sector. The company plans to utilize the fresh funding to expand its presence to five new cities by the fiscal year 2024. The startup aims to diversify its electric three-wheeler space offerings and enter the intercity e-bus segment in 2024. By 2025, Exponent envisions deploying 1,000 charging stations and powering 25,000 EVs with their innovative technology. The latest funding brings Exponent’s total capital raised to $44.4 million.</p>
<p><a href="https://www.mercomindia.com/us-record-storage-capacity-in-q3-2023/" target="_blank" rel="noopener"><strong>The U.S. energy storage market installed 7,322 MWh in the third quarter (Q3) of 2023, the highest capacity in a quarter to date, according to the U.S. Energy Storage Monitor report</strong></a> by Wood Mackenzie and the American Clean Power Association. The cumulative capacity of energy storage installations in 2023 reached 13,518 MWh, surpassing the total volume in the whole of 2022, which stood at 11,976 MWh. The report suggests that installations in Q3 could have been higher if not for the delay experienced by 80% of the projects that were in the pipeline.</p>
<p><a href="https://www.mercomindia.com/lcoe-primary-driver-choosing-right-solar-inverter-size/" target="_blank" rel="noopener"><strong>As solar power installations continue to grow, it has become crucial to optimally size the solar photovoltaic (PV) inverters to maintain their efficiency and performance</strong></a> to manage power generation in high ambient temperatures. Mercom India hosted a webinar titled “Optimal Sizing of PV Inverters for Robust Performance in High Ambient Temperatures” on December 12, 2023, where industry experts discussed the factors involved in optimally sizing solar PV inverters for diverse locations and temperatures and achieving higher performance.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/mercom-staff/" class="vcard author" rel="author"><span class="fn">Mercom Staff</span></a></div><div class="saboxplugin-desc"><div itemprop="description"></div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: BluPine Gets ₹5.11 Billion Loan for 120 MW Solar Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61288.mp3?version=1702554726">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Renewable energy company <a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a> has announced the financial closure of ₹5.11 billion (~$61.3 million) for its 120 MW solar project in Gujarat.</p>
<p>The green loan financing for the project was secured from <a href="https://www.sc.com/in/" target="_blank" rel="noopener">Standard Chartered</a>.</p>
<p>The total investment for the project is valued at ₹6.65 billion (~$79.8 million). Upon completion, the project is expected to generate about 323,000 MWh of solar energy annually, offsetting an estimated 296,000 tons of CO<sub>2</sub> and providing power to approximately 270,000 households.</p>
<p>The power generated from the project will be supplied to Gujarat Urja Vikas Nigam (GUVNL) under a power purchase agreement for 25 years from the scheduled commercial operation date.</p>
<p>Bluepine Energy had <a href="https://www.mercomindia.com/blupine-engie-tata-power-upc-winners-guvnls-750-mw-solar-auction" target="_blank" rel="noopener">won</a> the capacity under GUVNL’s auction to procure power from 750 MW of grid-connected solar projects with a greenshoe option of an additional capacity of up to 750 MW (Phase XVI).</p>
<p>The company had quoted the lowest tariff of ₹2.49 (~$0.031)/kWh to win 120 MW capacity.</p>
<p>“We are happy to announce the successful financial closure of our first 120 MW solar project in Gujarat. This accomplishment underscores our strategic vision and commitment to pioneering sustainable energy solutions. With a green loan valued at ₹5.11 billion (~$61.3 million), this visionary project not only contributes to India&#8217;s ambitious clean energy goals but also highlights our unwavering dedication to innovation and environmental responsibility,” Sanjeev Bhatia, CFO of BluPine Energy.</p>
<p>BluPine Energy’s cumulative solar and wind energy capacity in Gujarat will scale up to 360 MW and 290 MW, respectively, across three projects under GUVNL with the addition of this project.</p>
<p>Moreover, the overall renewable energy capacity will reach approximately 1.5 GW, with 360 MW currently operational.</p>
<p>BluPine Energy was established in India by Actis, a global investor with an investment of ₹800 million from Actis’ Energy Fund 5. The company aims to develop a 4-plus GW renewable energy portfolio in India exclusively.</p>
<p>Blupine was among the <a href="https://www.mercomindia.com/blupine-acme-winners-ruvnls-1-2-gw-solar-storage-auction/" target="_blank" rel="noopener">winners</a> in Rajasthan Urja Vikas Nigam’s auction to set up 1,200 MW of solar power projects anywhere in India with a committed supply for at least six hours from an energy storage system during peak demand periods. BluPine Energy won 100 MW by quoting a tariff of ₹6.68 (~$0.081)/kWh.</p>
<p>According to Mercom Capital Group’s <a href="https://mercomcapital.com/product/9m-q3-2023-solar-funding-ma-report/" target="_blank" rel="noopener">9M and Q3 2023 Solar Funding and M&amp;A Report</a>, the total announced large-scale project funding in the first nine months (9M) of 2023 came to $27.5 billion in 169 project funding deals, a 20% increase compared to $22.9 billion in 128 projects in 9M 2022.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

BluPine Secures ₹5.11 Billion Loan for 120 MW Solar Project


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/11/amazon_polly_60165.mp3?version=1699592591">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a>, <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, <a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener">Tata Power Renewable Energy</a>, Solarcraft Power India (<a href="https://blupineenergy.com/" target="_blank" rel="noopener">Blupine</a>), TEQ Green Power XVI (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>), <a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Solar Energy</a>, and <a href="https://renewpower.in/" target="_blank" rel="noopener">ReNew Solar Power</a> have won <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>’s auction to supply 1,500 MW of power from interstate transmission system (ISTS)-connected renewable energy projects with energy storage across India.</p>
<p>ACME (250 MW), Juniper (200 MW), and Tata (200 MW) won their quoted capacities at a tariff of ₹4.38 (~$0.0526)/kWh.</p>
<p>The rest of the winners, ReNew (184 MW), Solarcraft (150 MW), Hero (120 MW), and TEQ (80 MW), quoted ₹4.39 (~$0.0527)/kWh.</p>
<p>ReNew had bid for 300 MW but was awarded 184 MW under the bucket-filling method.</p>
<p>The reverse auction discovered the opening L1 tariff of ₹4.55 (~$0.0546)/kWh.</p>
<p>SJVN awarded only 1.18 GW of the tendered 1.5 GW capacity.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-60166 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results.png" alt="SJVN 1,500 MW of Renewable with Storage Auction Results" width="722" height="356" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results.png 722w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results-300x148.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results-650x320.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results-624x308.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/11/SJVN-1500-MW-of-Renewable-with-Storage-Auction-Results-600x296.png 600w" sizes="(max-width: 722px) 100vw, 722px" /></a></p>
<p>SJVN <a href="https://www.mercomindia.com/sjvn-bids-1-5-gw-renewable-energy-storage" target="_blank" rel="noopener">floated</a> the tender for the projects in June this year.</p>
<p>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.</p>
<p>The selected developers will also be responsible for getting the ISTS connectivity at their own cost, in line with applicable regulations.</p>
<p>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.</p>
<p>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.</p>
<p>According to Mercom India Research, solar auctions <a href="https://www.mercomindia.com/solar-auctions-up-86-tenders-rise-5-yoy-q3-2023" target="_blank" rel="noopener">increased</a> 86% year-over-year (YoY) in the third quarter of 2023, and tender activity saw a 7% YoY increase.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender and auction activity.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

ACME, Juniper and Tata Power Among Winners of SJVN’s 1.5 GW Renewable Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2023/01/amazon_polly_48605.mp3?version=1675337071">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://sprngenergy.com/" target="_blank" rel="noopener">Sprng Energy</a>, <a href="https://www.ibvogt.com/" target="_blank" rel="noopener">ib vogt</a>, <a href="http://www.hindujarenewables.com/" target="_blank" rel="noopener">Hinduja Renewables</a>, and Solarcraft Power India 9 (Blupine Energy) have won Gujarat Urja Vikas Nigam’s (GUVNL) auction to supply power from 500 MW of grid-connected solar power projects (Tranche XVIII) with a greenshoe option of an additional 500 MW.</p>
<p>Sprng Energy won 200 MW by quoting ₹2.51 (~$0.031)/kWh. ib vogt, Hinduja, and Blupine won 130 MW, 120 MW, and 50 MW, respectively, at ₹2.52 (~$0.031)/kWh.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-48663 size-full" src="https://mercomindia.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3.png" alt="GUVNL Tranche XVIII 500 MW auction" width="785" height="261" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3.png 785w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3-300x100.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3-768x255.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3-650x216.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3-624x207.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/GUVNL-Tranche-XVIII-500-MW-auction-3-600x199.png 600w" sizes="(max-width: 785px) 100vw, 785px" /></a></p>
<p>The discovered tariff of ₹2.51 (~$0.031)/kWh is just marginally higher than the bid of ₹2.49 (~$0.031)/kWh, <a href="https://mercomindia.com/blupine-engie-tata-power-upc-winners-guvnls-750-mw-solar-auction/" target="_blank" rel="noopener">discovered</a> in GUVNL’s auction in September 2022, to develop 750 MW of solar projects with a greenshoe option of an additional capacity of up to 750 MW (Tranche XVI).</p>
<p>The lowest-ever price <a href="https://mercomindia.com/gujarats-auction-sets-a-new-record/" target="_blank" rel="noopener">discovered</a> in GUVNL’s solar auction was ₹1.99 (~$0.024)/kWh in December 2020 for 500 MW of solar projects (Tranche XI).</p>
<p>GUVNL intends to procure solar power to fulfill its renewable power purchase obligation and meet the requirements of distribution companies.</p>
<p>The tender was <a href="https://mercomindia.com/guvnl-bids-buy-power-500-mw-solar-greenshoe-option/" target="_blank" rel="noopener">floated</a> in October last year.</p>
<p>The projects can be commissioned anywhere in the country and should be of at least 25 MW capacity.</p>
<p>The developers must bear all the transmission charges and losses up to the delivery point for interstate and central transmission utility network-connected projects.</p>
<p>The project should be designed to deliver energy at the Gujarat Energy Transmission Corporation (GETCO) periphery. The grid interconnection of the project with GETCO or the central transmission utility substation can be made directly through a dedicated line or a pooling substation of a wind farm where wind projects are also connected.</p>
<p>Only commercially established and operational technologies can be used to minimize the technology risk and achieve the projects’ timely commissioning. The modules to be used for the project should be from the approved list of models and manufacturers issued by the Ministry of New and Renewable Energy.</p>
<p>Solar tenders floated by various agencies in India <a href="https://mercomindia.com/solar-tenders-auctions-decline-q4-2022/" target="_blank" rel="noopener">declined</a> 32% quarter-over-quarter to 9.7 GW in the fourth quarter of 2022 from 14 GW. Tender announcements were, however, up by 56% year-over-year.</p>
<p>The quarter also witnessed a 50% QoQ dip in solar auctions, with 1.9 GW of capacity auctioned during the period. The capacity auctioned dropped 56% over the same period last year.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a>, GUVNL has floated tenders for 11.5 GW of solar projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

blupine

Get the most relevant India solar and clean energy news.

RECENT POSTS