Jevargi, Juniper, Avaada, and ACME Secure 1.2 GW FDRE Tender

Jevargi, Juniper, Avaada, and ACME Secure 1.2 GW FDRE Tender

NHPC, has announced the winners of its 1.2 GW Firm and Dispatchable Renewable Energy (FDRE) IV auction. It awarded the bids to four winners: Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings.

The tender for this project was released in June this year, and the results have been announced within six months. These winners will now supply 1.2 GW of FDRE from ISTS-connected renewable power projects with an energy storage system (ESS) and a greenshoe option for an additional 1,200 MW.

The project will deliver four hours of peak supply, requiring a blend of solar, wind, and battery technologies, ensuring a reliable and stable energy supply during periods of high demand.

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Among the successful bidders, NHPC allocated the lowest tariff rate to Jaipur-based Jevargi Solar, which secured a 150 MW project at a tariff of ₹4.48/kWh. Meanwhile, Juniper and Avaada received 200 MW and 600 MW, respectively, at a tariff of ₹4.56/kWh. Lastly, ACME secured 250 MW out of the quoted capacity of 600 MW at a ₹4.56/kWh tariff under the bucket-filling method.

A Brief Comparison

Previously, under Tranche II, NHPC announced the 1.2 GW FDRE project winners. It allocated the project to five successful bidders: Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy.

According to the tender results, NHPC allocated the lowest bid to Essar, Juniper, and Serentica for 300 MW, 200 MW, and 150 MW of capacities, respectively, at their quoted tariff of ₹4.37/kWh. Hexa won the 80 MW project at the same tariff. Meanwhile, the highest bid at the higher tariff rate was offered to Avaada for 470 MW at a tariff of ₹4.38/kWh.

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Overall, NHPC’s tender tariff rate remains lower than NTPC’s FDRE tender, which allocated the lowest bids to Hexa Climate for a 300 MW project at a tariff of ₹4.69/kWh out of the 760 MW allocated in this tender.

In comparison to the NTPC FDRE tender, the lowest bid for this project went to Hexa Climate for 300 MW at a tariff of ₹4.69/kWh, while the highest bids went to ACME Solar for 400 MW at ₹4.70/kWh and Avaada for 60 MW at ₹4.70/kWh under the bucket-filling method. Under this project, only 760 MW of the 1.2 GW was allocated.

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