In a recent auction for Renewable Energy Projects with Storage conducted by SJVN (Satluj Jal Vidyut Nigam Limited), several prominent bidders secured contracts for a total capacity of 1.5 GW. This significant development underlines India’s continued push for renewable energy adoption and storage solutions.
ACME Solar emerged as one of the top winners, securing a substantial 250 MW capacity at a tariff rate of ₹4.38 per kWh. Following closely were Juniper Green and Tata Power Renewable, each securing 200 MW with the same tariff rate, reinforcing the competitive pricing in the auction.
ReNew Power, Solarcraft (Blupine), and Hero Solar were awarded capacities of 184 MW, 150 MW, and 120 MW, respectively, all at a tariff rate of ₹4.39 per kWh. Additionally, TEQ Green (O2 Power) secured 80 MW at the same tariff rate, rounding out the list of successful bidders.
ReNew Power submitted a bid for 300 MW of capacity but was awarded 184 MW.
These results reflect the growing interest in renewable energy projects with energy storage capabilities in India. Such projects are crucial for addressing the intermittency of renewable sources like solar and wind, ensuring a more stable and reliable energy supply.
This auction outcome aligns with India’s commitment to expanding its renewable energy capacity and promoting cleaner energy sources. The competitive tariffs achieved in this auction underscore the country’s progress in achieving cost-effective and sustainable energy solutions.
The tender was floating in the month of June this year.