Launch of Solar Power Central Pool & Appointment of Intermediary Procurers Under MoP’s Uniform Renewable Energy Tariff Mechanism

Grid India, in alignment with the Electricity Amendment Rules notified on 29th December 2022, has officially announced the adoption of a uniform renewable energy tariff (URET) mechanism, a move sanctioned by the Ministry of Power on 25th October 2023. This initiative is set to revolutionize the distribution of renewable energy across the nation, starting with the launch of two primary pools: the ‘Solar Power Central Pool’ and the ‘Solar-Wind Hybrid Central Pool’.

Slated to commence operations on 15th February 2024, these pools will operate under the guidelines set forth in rule 19 of the Electricity Amendment Rules, 2022, which may be updated as necessary. The initiative aims to incorporate solar and solar-wind hybrid projects bid post-15th February 2024, adhering to India’s bidding guidelines, into their corresponding pools. A unique aspect of these pools is their operational principle, adopting a First in First Out (FIFO) strategy. This means that the capacity from solar and solar-wind hybrid projects, determined by the sequence of their Letter of Award (LoA), will be allocated and utilized in order of receipt.

This strategic implementation of the URET mechanism underscores India’s commitment to enhancing its renewable energy infrastructure, ensuring a streamlined and equitable distribution of renewable resources across the country.

Furthermore, the following renewable energy implementation agencies (REIAs) of MNRE shall act as Intermediarty Procurers for the purpose of implementation of URET Procudures:
NTPC LTd, NHPC LTd, SJVN Ltd and Solar Energy Corporation of India Ltd

This move is expected to significantly contribute to India’s sustainable energy goals by facilitating an efficient and coordinated distribution of renewable resources across the nation.