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					</table><p><a href="https://www.torrentpower.com/" target="_blank" rel="noopener">Torrent Power</a>, <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Solar Power</a>, TEQ Green Power XIII (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>), <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a>, <a href="https://acmecleantech.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a>, and <a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener">Tata Power Renewable</a> were declared winners in <a href="https://www.remcltd.com/" target="_blank" rel="noopener">REMC Limited</a>’s auction to supply 750 MW of round-the-clock (RTC) power from grid-connected renewable projects with or without storage across India for 25 years.</p>
<p>REMCL is a joint venture of <a href="https://indianrailways.gov.in/" target="_blank" rel="noopener">Indian Railways</a> and <a href="https://www.rites.com/" target="_blank" rel="noopener">RITES</a>.</p>
<p>Torrent Power quoted the lowest tariff of ₹4.25 (~$0.051)/kWh to win 100 MW. ReNew Solar, TEQ Green Power, NTPC Renewable Energy, and ACME Cleantech Solutions quoted ₹4.37 (~$0.052)/kWh and won 200 MW, 100 MW, 200 MW, and 100 MW respectively. Tata Power Renewable quoted ₹4.43 (~$0.053)/kWh and won 50 MW.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-62728 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043.png" alt="" width="762" height="337" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043.png 762w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043-300x133.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043-650x287.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043-624x276.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Screenshot-2024-01-30-143043-600x265.png 600w" sizes="(max-width: 762px) 100vw, 762px" /></p>
<p>The tender was <a href="https://www.mercomindia.com/railways-750-mw-rtc-renewable" target="_blank" rel="noopener">floated</a> in October 2023.</p>
<p>The project&#8217;s annual availability is initially set at 75% for the first four years, increasing to 85% for the remaining contract years. A minimum project availability of 50% is required for the entire contract tenure on a time-block basis.</p>
<p>In the event of a power supply shortfall, developers are obligated to pay 200% of the applicable tariff for that contract year, calculated annually or on a time-block basis. The power supply, including energy from the storage system, must utilize renewable sources for energy storage.</p>
<p>The parties involved are expected to mutually agree on the tariff, which will be levelized for each year based on a discounting factor of 7.7%.</p>
<p>Integration of energy storage systems (ESS) may involve their inclusion in the project or separate linkage with a third party by the developer.</p>
<p>Renewable generation components and ESS installations can be sited anywhere, either co-located or at separate locations. Various components of RTC power, such as solar, wind, hydro, and others, can be interconnected with the interstate transmission system (ISTS) network at different ISTS substations.</p>
<p>Qualified projects include those currently under construction, projects not yet commissioned, and those already commissioned but lacking long-term power purchase agreements with any agency.</p>
<p>This eligibility extends to projects selling power on a short-term or merchant plant basis, provided they are not already accepted under other government programs and do not have commitments to existing buyers.</p>
<p>REMCL had mandated the use of solar modules from the Approved List of Models and Manufacturers and wind turbines listed in the Revised List of Models and Manufacturers for the projects.</p>
<p>In July last year, REMCL <a href="https://www.mercomindia.com/indian-railways-tender-1-gw-round-the-clock-power" target="_blank" rel="noopener">invited</a> bids to procure 1 GW of RTC power from grid-connected renewable power projects with or without storage across India for 25 years.</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/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 />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<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>
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Torrent, ReNew, O2 Power, NTPC, ACME, Tata Power Win REMC’s 750 MW Renewable Auction


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					</table><p><a href="https://www.remcltd.com/" target="_blank" rel="noopener">REMC Limited</a> has invited bids to procure 695 MW of round-the-clock (RTC) power from grid-connected renewable energy projects with or without storage to operate in tandem with existing 500 MW Ircon Renewable Power (<a href="https://www.ircon.org/index.php?option=com_content&amp;view=article&amp;id=1&amp;Itemid=101&amp;lang=en" target="_blank" rel="noopener">IRPL</a>) and 195 MW Rewa Ultra Mega Solar (<a href="https://rumsl.mp.gov.in/" target="_blank" rel="noopener">RUMSL</a>) solar projects.</p>
<p>The proposed RTC power supply will include the existing supply from the IRPL and RUMSL solar projects. The selected project developer will only supply power for the time blocks where power is not available from these existing projects and fulfill the annual and time block availability.</p>
<p>Bidders must submit separate bids for the two tandem projects.</p>
<p>The last day to submit the bids is February 14, 2024. Bids will be opened on February 16.</p>
<p>Bidders must submit a bid processing fee of ₹1 million (~$12,044). They must also furnish an earnest money deposit of ₹980,000 (~$11,803)/ MW separately for each program.</p>
<p>Selected bidders must submit a performance bank guarantee of ₹2 million (~$24,089)/ MW at least seven working days prior to the signing of the power purchase agreement (PPA). They must also furnish ₹100,000 (~$1204)/ MW as success charges.</p>
<p>The minimum bid capacity for the IRPL project is 100 MW, and 50 MW for the RUMSL one. The projects’ annual availability for the initial four years is set at 75%, which increases to 85% for the remaining contract years. Time-block-wise availability requires a minimum project availability of 50% for the entire contract tenure.</p>
<p>Developers must acquire the land for the projects. Projects should be commissioned within 24 months of signing the PPA.</p>
<p>The tariff is expected to be mutually agreed upon by the parties involved, with the tariff for each year to be levelized based on a discounting factor of 7.7%.</p>
<p>To minimize technological risk and ensure timely commissioning, only commercially established and operational technologies should be employed for these projects.</p>
<p>If integrated, energy storage systems (ESS) may be included as part of the project or linked separately with a third party by the developer. Importantly, ESS power supplied for this project must originate from renewable sources.</p>
<p>Eligible projects encompass those under construction, projects not yet commissioned, and projects that are already commissioned but lack long-term PPAs with any agency, instead selling power on a short-term or merchant plant basis. These considerations apply if the projects are not already accepted under any other government programs and do not have obligations toward existing buyers.</p>
<p>The renewable generation components and ESS installations can be located anywhere in India, including co-located or separate locations. Various components of RTC power, such as solar, wind, hydro, and more, can be interconnected with the interstate transmission system (ISTS) network at different substations.</p>
<p>Bidders must exhibit a net worth equal to or exceeding ₹30 million (~$361,317)/ MW during the financial year immediately preceding the bid submission. A minimum annual turnover of ₹48 million (~$578,107) per MW during the last financial year is mandated.</p>
<p>The bidders’ internal resource generation capability, as represented by profit before depreciation, interest, taxes, and amortization, should amount to at least ₹9.6 million (~$115,621)/ MW during the previous financial year.</p>
<p>Bidders must possess an in-principle sanction letter from lending institutions, committing a line of credit for a minimum of ₹12 million (~$144,526)/ MW to fulfill the project’s working capital needs.</p>
<p>Bidders from countries sharing a land border with India are eligible to participate in this tender only if registered with the competent authority.</p>
<p>REMCL has mandated the use of solar modules listed in the Approved List of Models and Manufacturers and wind turbines listed in the Revised List of Models and Manufacturers for the projects.</p>
<p>In October, REMC <a href="https://www.mercomindia.com/railways-750-mw-rtc-renewable/" target="_blank" rel="noopener">invited</a> bids to procure 750 MW of RTC power from grid-connected renewable projects with or without storage across India for 25 years.</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>
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<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>
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Railways Float Tender to Procure 695 MW Round-the-Clock Renewable Power


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					</table><p>Sprng Akshaya Urja (<a href="https://sprngenergy.com/" target="_blank" rel="noopener">Sprng Energy</a>), <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a>, Project Nine Renewable Power (<a href="https://www.ayanapower.com/" target="_blank" rel="noopener">Ayana Power</a>), and TEQ Green Power XIII (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>) have won <a href="https://www.remcltd.com/" target="_blank" rel="noopener">REMC’s</a> auction to supply 1 GW of round-the-clock (RTC) power for 25 years from grid-connected renewable power projects with or without storage.</p>
<p>Sprng won 100 MW by quoting ₹3.99 (~$0.048)/kWh. NTPC and Ayana won 500 MW and 300 MW, respectively, quoting ₹4.10 (~$0.050)/kWh. O2 won 60 MW quoting ₹4.27 (~$0.052) kWh.<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png"><img decoding="async" loading="lazy" class="aligncenter wp-image-52345 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png" alt="REMC Auction" width="100%" height="100%" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png 797w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-300x110.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-768x282.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-650x239.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-624x229.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-600x221.png 600w" sizes="(max-width: 797px) 100vw, 797px" /></a></p>
<p>These projects are to be developed across India.</p>
<p>The tender was <a href="https://www.mercomindia.com/indian-railways-tender-1-gw-round-the-clock-power" target="_blank" rel="noopener">floated</a> in July last year. REMC is a joint venture of Indian Railways and Rail India Technical and Economic Service.</p>
<p>The projects’ annual availability for the first four years is 75%, and 85% for the rest of the contract years. The minimum project availability must be 50% for the entire contract tenure.</p>
<p>The developer will have to pay 200% of the applicable tariff for any shortfall in power supplied, calculated on an annual or time-block basis. The tariff will be mutually agreed upon and levelized based on an 8.09% discounting factor.</p>
<p>The tender had specified stated that only commercially established and operational technologies should be used to minimize technology risks.</p>
<p>The energy storage system (ESS) power must be from renewable sources. The renewable generation components and the ESS installed may be located anywhere, and different components of RTC power can be connected to the interstate transmission system network at various substations.</p>
<p>It had also mandated the use of solar modules from the Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy. Similarly, the wind turbines must also be procured from suppliers listed in the Revised List of Models and Manufacturers.</p>
<p>India witnessed a 50% quarter-over-quarter dip in solar auctions, with only 820 MW announced in the first quarter of 2023, according to <a href="https://mercomindia.com/research-2/" target="_blank" rel="noopener">Mercom India Research</a>. The capacity auctioned dropped 69% over the same period last year, mainly due to the uncertainty around the suspension of the ALMM policy.</p>
<p>The Ministry of New &amp; Renewable Energy recently announced that renewable project tenders of 50 GW capacity will be <a href="https://www.mercomindia.com/mnre-renewable-energy-bidding-trajectory" target="_blank" rel="noopener">issued</a> annually for the financial years 2024-28.</p>
<p>Subscribe to Mercom&#8217;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 the real-time tender 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>
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<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>
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Sprng, NTPC, Ayana, O2 Win Railway’s 1 GW Solar-Wind Hybrid Auction

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