SJVN Limited’s 1500 MW Solar Auction: Solarcraft, GRT Jwellers, Furies Solren, JSW New Energy and NTPC Renewable Secure Contracts with Competitive Tariffs

In a recent development in the renewable energy sector, SJVN Limited, the tender inviting agency, concluded a significant reverse auction for solar technology, aiming to procure 1500 MW of solar power capacity. The auction, held on February 8, 2024, saw intense competition among several bidders vying to secure contracts at competitive tariffs.

The auction revealed Solarcraft Power India 8 Pvt. Ltd. as the leading bidder, securing an impressive 300 MW of awarded capacity with a final tariff of 2.52 INR/kWh. Following closely behind, GRT Jwellers (India) Pvt. Ltd. and Furies Solren Pvt. Ltd. also secured 150 MW and 300 MW, respectively, at the same tariff rate.

JSW New Energy Limited emerged as a significant player, securing the highest bid capacity of 700 MW and maintaining a competitive tariff of 2.53 INR/kWh. NTPC Renewable Energy Limited secured 50 MW at a slightly higher tariff of 2.54 INR/kWh, while ACME Cleantech Solutions Pvt. Ltd., Apraava Energy Pvt. Ltd., ReNew Solar Power Pvt. Ltd., and Datta Power Infra Pvt. Ltd, were awarded no capacity despite their participation.

The auction showcased the fierce competition among industry players and the growing interest in solar energy projects, highlighting the sector’s potential for growth and investment opportunities.

Overall, the auction results reflect a mix of established players consolidating their positions and newer entrants making strategic bids in the burgeoning solar energy market.