SJVN Concludes 1500 MW Wind-Solar Hybrid Auction With Competitive L1 Tariff of Rs 3.43/kWh

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Satluj Jal Vidyut Nigam Limited (SJVN), a renewable energy sector company has announced that it successfully concluded a reverse auction for a 1500 MW wind-solar hybrid project on February 20. The auction witnessed competitive bidding, resulting in the establishment of an opening L1 tariff of INR 3.43 per kWh.

During the auction, Juniper Green Energy Private Limited emerged as the top participant, securing 150 MW at the opening tariff rate, followed by Datta Power Infra Private Limited and Green Infra Wind Energy Limited, along with other players like Energizent Power Private Limited and Green Prairie Energy Private Limited, were awarded capacities at a bit higher tariffs, ranging from Rs 3.47 to Rs 3.48 per kWh. Another major player, Avaada Energy Private Limited, was allocated 530 MW out of its bid for 750 MW, at a final tariff of Rs 3.49 per kWh. Moreover, NTPC Renewable Energy Limited also participated however it did not secure any capacity, bidding at INR 3.55 per kWh.

In November 2023, SJVN conducted its first reverse auction for 1,500 MW of renewable energy projects, where the lowest price discovered was Rs 4.38 per kWh. Now the reverse auction by SJVN has brought the tariff discovered for hybrid renewable energy projects further down to Rs 3.43 per kWh.

Apart from that, SJVN Green Energy Limited invited online bids to manufacture and supply solar PV modules with a total of 1960 MWp capacity across the country. It should also be noted that SJVN along with SECI and NHPC have been appointed as the renewable energy implementing agencies (REIAs) for floating the tenders and opening of bids. SECI and NTPC will have to invite bids for 15 GW each of RE projects, while NHPC and SJVN will have to do 10 GW each in the ongoing financial year.