Juniper Green, ReNew, Zelestra and Hero Future Winners In SJVN 1.2GW FDRE Tender

SJVN Finalizes 1.2 GW RE Deal with Four Major Developers

SJVN has closed the second tender for developer selection to provide 1.2 GW of firm and dispatchable power from renewable energy projects equipped with energy storage systems. The lowest tariff discovered in this tendering process stood at Rs 4.25 per kWh. Four developers have secured their project capacities by quoting the lowest tariff for the tender floated in MArch this year.

The awarded developers included Juniper Green Energy with 200 MW, ReNew Power with 150 MW, Ganeka Solar/Zelestra with 140 MW, and Hero Future Energies with 120 MW. The remaining 590 MW was allocated to Avaada Energy, quoting a tariff of INR 4.26 per kWh.

The selected developers will develop renewable energy projects having energy storage systems that will provide firm and dispatchable power supply. All of these projects will be developed on a build-own-operate basis meaning that the developers will construct, own, and operate the projects for the long term.

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SJVN will enter into a 25-year power purchase agreement (PPA) with each of the successful bidders, therefore guaranteeing stable supply of energy over the contract period.

The tender continues the steadily building pipeline of hybrid projects that have provided a fillip to both solar and wind turbine manufacturers domestically, now that all projects come with strict ALMM requirements. At the recent REI expo, indications were that most module manufacturers have sold our capacities till March 2025, and beyond in many cases. That would usually be worrying, but for the fact that fresh capacities are coming online at an equally rapid pace, pointing to an easing of the situation on the ground by April next year on both the modules and cell supply fronts, especially the former.

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