SJVN’s 1,500 MW solar-wind hybrid project gets tariff bid as low as Rs3.43/kWh

State-owned SJVN Ltd’s 1,500 MW solar-wind hybrid power project received bids as low as Rs3.43 per kWh as the reverse auction concluded on Tuesday. This is lower compared to the Rs4.38 per kWh tariff realised in SVJN’s November 23 auction for 1,500 MW renewable energy projects.

Auction winners included six entities, with Juniper Green Energy Private Limited emerging as the lowest bidder, securing 150 MW capacity at a tariff of Rs3.43 kWh. 

Avaada Energy Private Limited was awarded 530 MW capacity against its bid for 750 MW, at a tariff of Rs3.49 per kWh – the highest for any winning bid.

Among other winning bids, Datta Power Infra Private Limited secured 50 MW capacity at Rs3.47 per kWh and Green Infra Wind Energy Limited secured 440 MW capacity at Rs3.48 per kWh while Energizent Power Private Limited (220 MW) and Green Prairie Energy Private Limited (60 MW0 quoted Rs3.48 per kWh.

NTPC Renewable Energy Limited, which also participated in the auction with a bid of Rs3.55 per kWh, failed to secure any capacity.

Bid rates for unit power in auctions in India have witnessed a steady decline, especially with the introduction of wind-solar hybrid projects that are more energy efficient. 

The government has set an ambitious target of achieving 500 GW of renewable power capacity by 2030 and has authorised NTPC Ltd, Solar Energy Corporation Of India (SECI) Ltd, NHPC Ltd and SJVN Ltd as the implementing agencies.

It has also released agency-wise quotas for inviting bids for RE projects totalling 50 GW each year, starting from 2023-24. Accordingly, SECI and NTPC will administer renewable energy project awards for 15 GW each while NHPC and SJVN will handle award of renewable capacity of 10 GW each.