Ministry of Power Introduces Revised Day-Ahead National Merit Order Dispatch Mechanism to Reduce Electricity Prices
The Ministry of Power has finalized a revised structure of Day-Ahead National level Merit Order Despatch Mechanism with a view to lower the overall cost of electricity generation, which will translate into lower electricity prices for consumers. As per the revised mechanism, the Merit Order for cheapest generating resources across the country to meet the system demand, would be, finalized a day in advance as against 1.5 hours in the existing system. This will result in better planning for generating units and cost optimization. Moreover, the revised mechanism will also enlarge the scope of present mechanism by including all the regional entity thermal power plants and subsequently all the intra-state thermal generators. In the existing system, only the NTPC thermal stations were part of the merit order despatch.
MNRE Designates SJVN as Renewable Energy Implementing Agency (REIA) to Aid India’s RE Targets
The Ministry of New and Renewable Energy (MNRE) has designated SJVN Ltd, a Miniratna, Category-I PSU, as a Renewable Energy Implementing Agency (REIA). SJVN had requested this categorization from the ministry. As per the official order dated April 24, SJVN will now act as an intermediary procurer/REIA under the Electricity Act, Central Electricity Regulatory Commission (Connectivity and General Network Access to the Inter-State Transmission System) Regulations, 2022, and Guidelines issued by the Central Government for Tariff-Based Competitive Bidding Process for Procurement of Renewable Power. SJVN will have to co-ordinate with other REIAs such as SECI, NTPC, and NHPC for floating tenders and opening of bids to avoid concurrent bids for similar projects.
CERC Revises Price Ceiling for Power Exchanges to Address Market Dynamics and Lower Electricity Costs
The Central Electricity Regulatory Commission (CERC) has recently issued an order aimed at addressing the increasing demand for electricity in India and the resulting price fluctuations. The order directs Power Exchanges to revise their bidding software to allow members to quote prices within a new range, with the goal of reducing electricity costs for buyers and offering opportunities for high-cost generators and willing buyers to participate in the High Price Day Ahead Market (HP-DAM).
NTPC REL Invites Bids for 9000 MWh Energy Storage Solutions in India
NTPC Renewable Energy Limited (NTPC REL) has invited eligible bidders to participate in a Global Competitive Bidding Process for the selection of developers for ISTS Connected Energy Storage Solutions in India. The aim is to meet NTPC REL’s Renewable Energy Round the Clock/Peak Power Requirements by complementing with wind/solar generation profile under Service Model. The energy storage solution should have a minimum capacity of 1500 MW and a total energy storage capacity of 9000 MWh, with a project size of at least 600 MWh and 100 MW capacity.
MNRE Releases REIAs-wise Bidding Calendar for 50 GW Renewable Energy Projects in FY 2023-24
The Ministry of New & Renewable Energy (MNRE) has announced its bidding plan for renewable energy projects, with a target of 50 GW for the fiscal year 2023-24. This plan follows the Bidding Trajectory for Renewable Energy Power Projects issued in March 2023. The Renewable Energy Implementing Agencies (REIAs), including SECI, NTPC, NHPC, and SJVN, have been asked to coordinate with each other to avoid concurrent bids. SECI and NTPC Ltd have been assigned the responsibility of issuing tenders for a total of 15 GW renewable energy projects each, out of which 12.5 GW will be for solar/hybrid/Round-the-Clock (RTC) projects and 2.5 MW for wind projects. Similarly, NHPC Ltd and SJVN Ltd have been tasked with issuing tenders for 10 GW each, out of which 7.5 GW will be for solar/hybrid/RTC projects and 2.5 MW for wind projects each.
MNRE Grants 2 Month Validity Extension to Solar Manufacturers in ALMM List-I
The Ministry of New and Renewable Energy (MNRE) has extended the validity of solar manufacturers from its Approved List of Models and Manufacturers (ALMM) after their validity expired on March 9, 2023. These manufacturers were the first to be featured in the ALMM list published on March 10, 2021. The ministry received requests from many of these manufacturers to extend their validity, and the ministry has granted extensions to them from March 9, 2023, to May 9, 2025. Some of the solar manufacturers that received extensions include Vikram Solar, Emmvee, RenewSys India, Sova Solar, Australian Premium Solar (India) Pvt. Ltd., Solex Energy, PV Power technology, Saatvik Green Energy, Navitas Green Energy.
SECI’s Renewable Energy Power Trading Volume Soars by Over 59% in FY 2022-23, Crossing Rs. 10,000 Crore Mark
Solar Energy Corporation of India Limited (SECI) has traded over 35 BU (Billion Units), a jump of over 59% in its Renewable Energy power trading volume during FY 2022-23 over the previous year. Likewise, the revenue from power trading has crossed Rs. 10,000 Crore mark for the first time since its inception. Till date, SECI has awarded Renewable Energy (RE) project capacities of over 56 GW. SECI is also active in setting up of projects through its own investments as well as for other public sector entities as Project Management Consultant (PMC). SECI enjoys highest credit rating of AAA by ICRA.
