Winning Bid In 1.5 GW SJVN Tender with Storage At INR 4.38 per Kwh

Tariff Discovered in SJVN 1.5 GW Tender Exceeds INR 4 per Kwh

In the 1500 MW SJVN solar tender for ISTS connected renewable energy project that comes with storage pan India, Juniper Green Energy, Tata Power Renewable Energy, ACME Cleantech Solutions, Solarcraft Power India, Hero Solar Energy, TEQ Green Power XVI, ReNew Solar Power have emerged as winners.

SJVN is a public sector undertaking.

ACME bagged the highest capacity of 250 MW in the solar tender, followed by Juniper and Tata, both of which won 200 MW capacity each. All three won the capacities at a tariff of INR 4.38 per Kwh. The bids are attractive considering how previous renewable plus storage tenders have tended to be much higher so far. For instance, in April 2023, SECI awarded storage-backed 1200 MW hybrid project that saw firms quoting bids between INR 4.64 to 4.73 per Kwh. In December last year, Maharashtra State Electricity Distribution Company Limited (MSEDCL) discovered a significant price of INR 9 per Kwh for 250 MW solar plus storage tender.

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ReNew, which had bid for 300 MW, bagged 184 MW of capacity under the bucket filling method while Solarcraft bagged 150 MW and Hero Solar won 120 MW. TEQ, an arm of O2 Power, bagged a capacity of 80 MW. All the capacities were bagged at a tariff of INR 4.39 per Kwh.

For reverse auction, the lowest tariff discovered in the tender during the opening was pegged at INR 4.55 per KwH.

Noticeably, just 1.18 GW of capacity has been awarded by SJVN as opposed to the full capacity of the tender, which is, 1.5 GW.

The said tender was issued in June, 2023 and SJVN has announced a series of significant tenders since. These include two tenders of 1500 MW capacity each, namely a wind-solar project and solar projects connected to the Interstate Transmission System (ISTS).

Recently, SJVN struck a 200 MW solar power agreement with Uttarakhand Power Corporation Limited with viability gap funding. The source of this supply of power will be SJVN’s Bikaner Solar Project. SJVN also signed an agreement with a Norway based firm for floating technology.