SJVN Limited’s 1500 MW Wind-Solar Hybrid Auction Commands Competitive L1 Tariff of INR 3.43/kWh

In a significant development in the renewable energy sector, SJVN Limited successfully concluded a reverse auction for a 1500 MW wind-solar hybrid project on February 20, 2024, marking a pivotal step towards achieving India’s clean energy goals. The auction witnessed competitive bidding, resulting in the establishment of an opening L1 tariff of INR 3.43 per kWh.

Juniper Green Energy Private Limited emerged as a leading participant, securing 150 MW at the opening tariff rate, underscoring its commitment to contributing to India’s renewable energy landscape. Close on its heels, Datta Power Infra Private Limited and Green Infra Wind Energy Limited, along with other key players like Energizent Power Private Limited and Green Prairie Energy Private Limited, were awarded capacities at slightly higher tariffs, ranging from INR 3.47 to INR 3.48 per kWh.

Avaada Energy Private Limited, a major contender in the auction, was allocated 530 MW out of its bid for 750 MW, at a final tariff of INR 3.49 per kWh. Notably, NTPC Renewable Energy Limited also participated but did not secure any capacity, bidding at INR 3.55 per kWh.

This auction is a testament to the growing competitiveness and viability of wind-solar hybrid technologies in India, offering a sustainable solution to meet the country’s increasing energy demands while adhering to environmental commitments. The successful bidders are set to play a crucial role in propelling India towards its ambitious renewable energy targets, fostering a cleaner and greener future.