ReNew Power bags India’s first roundthe-clock solar power tender
ReNew Power, a major RE producer in India hasbagged India's first round-the-clock (RTC) solar powertender floated by the Solar Energy Corporation of India(SECI) at a record low tariff of `2.90 per unit.
ReNew Power won the bid for the whole 400-megawatt (MW) capacity by quoting a tariff of `2.90 per unit. As per the tender conditions, the tariff will increase three percent annually up to the 15th year of the 25-year term of the PPA, taking the levelized tariff for the project to `3.59/ kWh per unit.
This tender is a significant leap for India's renewable energy sector as it is the first tender that mandates developers to supply round-the-clock energy from 100 percent RE-based energy generation sources such as wind and solar PV, combined with storage.
The projects under this tender will be set up under theBuild-Own-Operate model and the developer will have theoption to build hybrid plant using wind or energy storagesystems. The project also offers flexibility in the type ofstorage used – it could be a battery system or pump storageor any other. Power from this project will be sold to theNDMC and Daman & Diu and Dadra & Nagar Haveli, witheach entity off-taking capacity of 200 MW. There was noceiling tariff for the projects, and the developers are free toset up the project on a Pan-India basis.
Other bidders for the 400 MW RTC solar power projectincluded Greenko Energies Pvt. Ltd, HES Infra Pvt Ltd,and Ayana Renewable Power Pvt. Ltd. SECI awarded thetender to ReNew as it quoted the lowest tariff for the entire400MW capacity.
Recently, ReNew Power also won the auction to supplyclean power for peak requirements through the world'slargest renewable-cum-energy storage power purchasetender by SECI through a reverse auction method.