Renew Power wins 400 MW round-the-clock renewable auction at Rs 2.90/kWh
The developer can choose to set up solar, wind or hybrid plant, along with appropriate energy storage system to ensure round-the-clock power supply.
The Solar Energy Corporation of India has concluded the 400 MW round-the-clock renewable power supply auction. The procurement exercise was held for supply to New Delhi Municipal Council (200 MW) and Dadra & Nagar Haveli (200 MW) utility.
The procurement round was oversubscribed, with bids received for close to 950 MW capacity.
Renew Power secured the entire capacity of 400 MW by quoting the lowest first-year tariff of Rs 2.90/kWh.
As per the terms of tender, the tariff would escalate by 3% annually, up to the end of the 15th contract year of the power purchase agreement. It shall subsequently be fixed thereafter, for the remaining term of the PPA.
The developer can choose to set up a hybrid plant combining solar and wind components, or augment the project with appropriate energy storage system to ensure round-the-clock power supply.
The interstate transmission system (ISTS) connected projects—to be developed on ‘build-own-operate’ basis—can be set up anywhere in India.