Four companies have won the auction to supply 1 GW of round-the-clock (RTC) power to Indian Railways for a 25-year period from grid-connected renewable power projects. The companies that won are Sprng Energy, NTPC Renewable Energy, Ayana Power, and O2 Power. The projects will be developed across India.
Sprng Energy secured 100 MW capacity by quoting ₹3.99/kWh, while NTPC and Ayana Power won 500 MW and 300 MW, respectively, with bids of ₹4.10/kWh. O2 Power won the remaining 60 MW capacity by quoting ₹4.27/kWh
The minimum bid capacity stipulated by the tender was 250 MW, and any bidder from a nation that borders India on land could participate provided they had registered with the appropriate authority.
The projects must have an annual availability of 75% for the first four years and 85% for the remaining contract years. Commissioned projects are excluded from consideration for this procurement, and developers must acquire the land needed for the renewable energy project.
If necessary, the developer may decide to incorporate an energy storage system (ESS) into the project or enter into a separate agreement with a third party. The energy stored in the storage system can also be included in the supply, provided it should be from renewable sources.
The approved list of models and manufacturers published by the Ministry of New and Renewable Energy should be used to source the solar modules for the projects. Additionally, wind turbines from manufacturers on the Revised List of Models and Manufacturers shall be employed.
In the event of a power supply deficit, the developer will be liable for the shortfall energy at a rate equal to 200% of the tariff for that contract year, computed on an annual or time block basis.