Solarpack, Avaada Power, and Others Secure Top Bids in SJVN’s 1.5 GW Auction; Majority of Bidders Lock in Competitive ₹3.41/kWh Tariff

In a significant development in the renewable energy sector, the SJVN (Satluj Jal Vidyut Nigam) has concluded its auction for the 1.5 GW wind-solar hybrid power project. The auction witnessed competitive bidding from several prominent companies, each vying for a slice of the substantial project capacity on offer.

The auction results reveal that Solarpack emerged as one of the top bidders, securing a substantial 300 MW at a tariff rate of ₹3.41 per kWh. AMPIN Energy and Juniper Green Energy also demonstrated strong interest, each securing 150 MW at the same tariff rate of ₹3.41 per kWh. Datta Power Infra and EverGreen Power secured 70 MW and 60 MW respectively, both at a tariff of ₹3.41 per kWh, indicating a consistent competitive tariff rate among most bidders.

A standout participant, Avaada Power, secured the highest individual capacity with a bid for 470 MW, albeit at a marginally higher tariff rate of ₹3.42 per kWh. This slight increase did not deter their ambition to dominate the hybrid power sector. JSW Energy also made a significant entry with a successful bid for 300 MW at ₹3.42 per kWh.

The consistent tariff rate of ₹3.41 per kWh among the majority of bidders underscores a competitive pricing strategy, with a slight variation observed in the bids from Avaada Power and JSW Energy. This auction reflects the growing interest and investment in hybrid renewable energy projects in India, aligning with the country’s goals to enhance its green energy capacity.

These results from SolarQuarter Research highlight a robust and competitive market for renewable energy, setting a promising benchmark for future auctions and investments in the sector. The SJVN’s wind-solar hybrid project is poised to contribute significantly to India’s renewable energy landscape, fostering sustainable development and energy security.