NREL, JSW, Solarcraft Emerged Winners For SJVN’s 1500 MW Solar Tender

NTPC Renewable Energy Limited (NREL), JSW, Solarcraft, and some other solar power developers bagged recent orders from a 1500 MW solar power tender auctions undertaken by SJVN Limited.

While Solarcraft Power India emerged as the bidder with the lower tariff of Rs 2.52/kWh, others that bagged the order included GRT Jewelers (India), Furies Solren, JSW New Energy, and NTPC Renewable Energy Limited (NREL).

SJVN Chief Managing Director (CMD) Geeta Kapur, recently announced the successful conclusion of an e-reverse auction (e-RA) by the Renewable Energy Implementing Agency (REIA) for its 1500 MW solar project.

She mentioned, “The e-RA was conducted for selection of Solar Power Developers for setting up 1500 MW ISTS-connected Solar PV Projects anywhere in India under Tariff-Based Competitive Bidding (TBCB).”

She elaborated, “The discovered tariff varies between Rs. 2.52/kWh to Rs. 2.54/kWh. By Virtue of this, SJVN would get a trading margin of Rs. 0.07/kWh. SJVN has been designated as REIA by the Ministry of New and Renewable Energy Agency (MNRE) to invite bids for 50 GW of renewable energy capacity annually during the next five financial years.”

Earlier, Satluj Jal Vidut Nigam (SJVN) Limited received a Letter of Intent(LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 200 MW Solar Power Project in GUVNL Phase XXII. SJVN Chief Managing Director (CMD) Geeta Kapur informed on the social media platform X, “SJVN has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited for 200 MW Solar Power Project in GUVNL Phase XXII.”

She elaborated, “SGEL, a wholly owned subsidiary of SJVN has earlier bagged an initial 100 MW Solar Project through bidding & further 100 MW under Greenshoe option at a tariff of Rs 2.63 per unit on Build Own Operate (BOO) basis in e-RA conducted by GUVNL in December 2023.”

Geeta Kapur, CMD, SJVN added, “The tentative cost of development of this project is Rs 1100 crores. This project is expected to be developed by SGEL anywhere in India through an Engineering, Procurement, and Construction (EPC) contract. The Power Purchase Agreement (PPA) shall be executed with GUVNL after adoption of tariff by the Gujarat Electricity Regulatory Commission (GERC).”

Solarcraft Power India 8 emerged as the top bidder. It bagged a 300 MW of capacity with a tariff of Rs 2.52/unit. Other successful bidders included–ACME Cleantech Solutions, Apraava, ReNew Solar, JSW New Energy, NTPC Renewable Energy and Datta Power, Furies Solren.