Five Bidders Declared Winners in RTC Supply of 2.5 GW RE Tender Bundled with Thermal by SECI

Hindustan Thermal Projects, Greenko Energies, ReNew Samir Urja, Power Mech Projects and JSW Neo Energy emerged as winners in the Solar Energy Corporation of India’s (SECI) auction seeking supply of 2.5 GW of round-the-clock (RTC) power from grid-connected renewable energy projects, complemented with power from coal-based thermal projects.

In March, 2020, SECI put out a tender for Selection of RE Power Developer for “Round-the-Clock” Supply of 5 GW of RE Power from grid-connected renewable power projects, bundled with power from coal-based thermal projects in the country. Later in January 2021 the request was amended and the total capacity was reduced to 2.5 GW from 5 GW.

Also the single composite tariff was also been replaced by the weighted average levelized tariff. As per the revised RfS document, the bidder have to submit a single bid offering a minimum amount of 250 MW capacity and a maximum of 2.5 GW.

SECI has stated that the sources of generation and the energy storage system (ESS) may be co-located or located at other sites and considered a single project. If power is injected from the ESS at a different location other than the renewable energy components, applicable transmission charges of power from such ESS will be borne by the developer.

Hindustan Thermal Projects emerged as the lowest bidder quoting Rs 3.01 per unit for supply of 250-MW electricity. Greenko Energies quoted a tariff of Rs 3.18 per unit to supply 1,001 MW. ReNew Samir Urja placed Rs 3.19 per unit bid for 600 MW and Power Mech Projects quoted Rs 3.30 per unit for supply of 550 MW. JSW Neo quoted Rs 3.45 per unit for 600 MW.

According to the bid documents, all bidders will have to match the L1 tariff (Rs.3.01/KWh) to bag contracts.