SECI’s Hybrid Projects Set To Offer Green Power At Rs 2.53/Unit

SECI's Hybrid Project Set To Offer Green Power At Rs 2.53/Unit

India is all set to get renewable power from upcoming 1,170 MW solar-hybrid projects at Rs 2.53 per unit. These Inter-State Transmission System (ISTS) projects are situated in states like Rajasthan, Karnataka and Gujarat. These projects are set to be commissioned by next year.

These projects were part of the Solar Energy Corporation of India (SECI) ‘s 1200 MW solar-wind hybrid projects under Tranche-V. The Central Electricity Regulatory Commission (CERC), in its latest judgment has adopted the tariffs fixed through the competitive bidding process between SECI and the green energy developers. 

SECI issued the Request for Selection (RfS) for these projects on October 22, 2021. It received 13 bids for the same, while three bidders qualified for the bid through reverse bidding. These included TP Saurya Limited (600 MW), AMP Energy Green Private Limited (120 MW) and NTPC Renewable Energy Limited (450MW). The Power Purchase Agreement (PPA) for the same was signed on July 12, 2022. As per the mandate, these are now set to start commissioning before July 12, 2024. All these green developers had a tariff of Rs 2.53/unit for these projects. 

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SECI, meanwhile, has also signed a Power Sale Agreement (PSAO for the entire 1170 MW with the discoms, namely MPSEZ Utilities Limited (MUL) and CESC Limited (CESC). As per the agreement, SECI would also be entitled to a tariff, including a trading margin of Rs 0.07/unit. 

As per the guidelines of the tender, these wind-solar hybrid generators would have to have a rated power capacity of one resource (wind/solar) at least 33 percent. Meanwhile, they must also ensure that the annual Capacity Utilisation Factor (CUF) is not less than 30 percent. 

The hybrid guidelines provide the framework for long-term procurement of wind-solar hybrid power at a tariff to be determined through a transparent bidding process by the procurer(s) from ISTS wind-solar hybrid power projects having a minimum size at one site of 50 MW.

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TP Saurya Limited received the Letter of Award (LOI) for the project locations in different locations of the Gadag district in Karnataka. NTPC Renewable Energy received the LOI for projects in the Bikaner district of Rajasthan and Kutch district of Gujarat. On the other hand, AMP Energy Green received the LOI for projects in the Barmer district of Rajasthan. 

“…the Commission adopts the individual tariff for the Hybrid Power Project, as agreed to by the successful bidders, and for which PPAs have been entered into by SECI on the basis of the PSAs with the distribution licensees, which shall remain valid throughout the period covered in the PPAs and the PSAs…” the order from CERC read.