Tata Power Renewable Energy Wins 255 MW Wind-Solar Hybrid Auction
The discovered tariff for TPDDL is 28% more than the lowest in the category
Tata Power Renewable Energy (TPREL) was declared the winner in Tata Power Delhi Distribution’s (TPDDL) auction for 255 MW wind-solar hybrid power projects. The company has quoted a price of ₹3 (~$0.037)/kWh, according to Mercom sources.
The second lowest quoted tariff was ₹3.01 (~$0.037)/kWh by Avaada Energy. The third lowest tariff was ₹3.80 (~$0.047)/kWh by ReNew Solar Power.
The winning tariff is 28% higher than the lowest bid of ₹2.34 (~$0.029)/kWh, discovered in the wind-solar hybrid (Tranche-IV) auction held in August last year.
The significant increase in the tariff discovered in the recent auctions reflects the impact of the Basic Customs Duty and the Approved List of Models and Manufacturers (ALMM) regulation on projects.
The tender was floated by the TPDDL in September to set up 255 MW of wind-solar hybrid power projects with a greenshoe option of an additional 255 MW across India on a build, own, and operate basis.
In the tender, TPDDL has specified the capacity break-up as 85 MW solar and 170 MW wind power. It would also have a greenshoe option of an additional 255 MW project capacity on similar lines.
TPDDL will enter into a 25-year power purchase agreement with the winning bidder.
According to the terms of the agreement, the project’s declared annual capacity utilization factor should not be less than 30%.
The rated power capacity of one resource (wind or solar) should be at least 33% of the total contracted power capacity.
Only type-certified wind turbine models listed in the Revised List of Models and Manufacturers issued by the Ministry of New and Renewable Energy will be allowed to be deployed
The cells and modules used should be sourced only from the models and manufacturers included in the ALMM.
Mercom’s recently released India Solar Market Leaderboard 1H 2022 ranks Tata Power Renewables second for the highest number of solar installations in 1H 2022, accounting for 10% of the total market share.
In September this year, the company announced it would set up a 100 MW captive solar project for stainless steel manufacturer Viraj Profile at Tarapur in Maharashtra.