ReNew, Enfinity, Serentica Among Winners of SJVN’s FDRE tender

SJVN has announced the winners of its 1.2 GW Firm and Dispatchable Energy (FDRE) tender. As per the tender announcement, SJVN awarded the bids to ReNew Solar Power, EG Energy Development (Enfinity Global), Dineshchandra R Agrawal Infracon, Serentica Renewables India, and Tata Power Renewable Energy to develop 1,200 MW ISTS-connected projects for firm and dispatchable renewable energy supply. It also offers a greenshoe option of up to 1.2 GW. The tender for this project was released in June 2024 and the results were declared within eight months. However, with just 448 MW awarded, clearly there is some issue on pricing that has not been resolved.

Out of the 1.2 GW tender, SJVN auctioned 448 MW of projects. The lowest tariff for this tender was awarded to ReNew Solar Power (₹4.82/kWh for 100 MW), Dineshchandra R Agrawal Infracon (₹4.86/kWh for 100 MW), and Serentica Renewables (₹4.89/kWh for 100 MW). Additionally, SJVN awarded a 60 MW project to EG Energy (Enfinity Global) at ₹4.83/kWh and the highest tariff of ₹4.91/kWh to Tata Power Renewable Energy for an 88 MW project.

Previous Tenders: A Brief Comparison

SJVN’s latest tender has a higher tariff of ₹4.82/kWh compared to its previous 1.2 GW FDRE tender, which awarded projects at ₹4.25/kWh. The earlier 1.2 GW FDRE tender winners included Juniper Green Energy (200 MW), ReNew Power (150 MW), Ganeka Solar/Zelestra (140 MW), and Hero Future Energies (120 MW).

The latest SJVN tender tariff is also higher than NHPC’s 1.2 GW FDRE VI tender, which allocated bids to Jevargi Solar Power (Rays Power Infra), Juniper Green Energy, Avaada Energy, and ACME Solar Holdings. In this tender, NHPC allocated the lowest tariff of ₹4.48/kWh to Jevargi Solar (150 MW), which is lower than SJVN’s latest ₹4.82/kWh rate. Other winners included Juniper Green Energy (200 MW) and Avaada Energy (600 MW) at ₹4.56/kWh. Lastly, ACME Solar secured 250 MW out of the quoted 600 MW capacity at ₹4.56/kWh under the bucket-filling method.

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Another FDRE tender worth comparing is NHPC’s 1.2 GW solar project under Tranche II, which allocated projects to Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy.

NHPC Awards 1.2 GW Solar-Plus-Storage Tender To Six Bidders

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