In a major stride towards bolstering India’s renewable energy sector, SJVN, a prominent public sector undertaking, has initiated bidding for the development of 1,500 MW Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects. This initiative holds great promise for India’s clean energy landscape, supporting sustainability and diversification of its energy sources.
SJVN will enter into a 25-year Power Purchase Agreement (PPA) with the chosen bidder, ensuring a stable and long-term commitment to renewable energy generation. To participate in the bidding process, developers must submit a bid processing fee of ₹15 lacs plus 18% GST for each project.
Furthermore, a significant earnest money deposit (EMD) of ₹12 lacs per MW per project, supported by a bank guarantee, must be provided by bidders. Additionally, successful participants will be required to furnish a performance bank guarantee valued at ₹30.6 lacs per MW of the contracted capacity for the associated PPA.
To meet the project’s eligibility criteria, bidders must deliver a minimum power capacity of 50 MW or more for projects connected to ISTS. Importantly, a minimum of 33% of the total contracted capacity must originate from a single resource—either wind or solar—ensuring diversity in the energy mix.
Prospective bidders have until November 7, 2023, to submit their proposals, with the bid opening set for November 8.
Notably, the selected bids will remain valid for a full year from the submission date, providing flexibility for interested developers.
SJVN’s initiative represents a significant stride towards harnessing India’s renewable potential, addressing energy needs sustainably, and aligning with the country’s clean energy goals. The bidding process is expected to attract leading developers and accelerate the growth of the renewable energy sector in India.