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SECI, a CPSU, conducts e-Reverse Auction for the 400 MW RE projects with RTC supply Results in historic first year tariff of Rs. 2.90/kWh Indian Renewable Energy (RE) sector has witnessed history today, as the e-Reverse Auction(e-RA) for 400 MW RE(Renewable Energy) Projects with Round the Clock (RTC) supply, was concluded at an astounding first year tariff of Rs.2.90/kWh. The bidding was conducted by Solar Energy Corporation of India Ltd., a Central PSU under Ministry of New and Renewable Energy. The capacity of 400 MW has been awarded to M/s ReNew Solar Power Pvt. Ltd. after a closely fought auction which saw the lowest tariff drop by 69 paise over the course of almost 3 hours. Complementing SECI for this effort Shri R. K. Singh, the Union Minister of State (IC), Power and New & Renewable Energy & Minister of State, Skill Development and Entrepreneurship, said in a tweet last evening, “Golden chapter added in Indian Renewable Energy story, as e-RA for 400 MW RE Projects with Round the Clock (RTC) supply conducted by SECI Ltd results in historic 1st year tariff of Rs.2.90/kWh. MNRE makes a new beginning towards firm, schedulable & affordable RTC supply through 100% RE power.” The tender for 400 MW capacity had received a strong participation, with 4 bidders submitting their bids for a total capacity of 950 MW. 3 out of the 4 bidders, namely M/s ReNew Solar Power Pvt. Ltd., M/s Greenko Energies Pvt. Ltd and M/ HES Infra Pvt Ltd. were finally shortlisted for the e-Reverse Auction. M/s Ayana Renewable Power Pvt. Ltd. was the fourth bidder. Power from this project is targeted to be sold to the NDMC and Daman & Diu and Dadra & Nagar Haveli, with each entity off taking a capacity of 200 MW. There was no ceiling tariff for the Projects, and the developers are free to set up the project on a Pan-India basis. The projects under this tender will be set up under the Build-Own-Operate model. What makes the tariff a historic one, is the fact that this tender provides for a Round the Clock energy supply from 100% RE based energy generation sources, such as wind and solar PV, combined with storage. The developer will be provided a maximum time period of 24 months from the Effective Date of PPA. The first year tariff shall be escalated @3% on an annual basis, up to the 15th year of the 25-year Term of the PPA. As a result, the effective tariff for the said Project amounts to Rs.3.59/kWh. Compared to the tariffs witnessed in conventional sources of generation, this tariff offers a much better proposition for the Disocms to meet their energy demand through 100% RE supply. As per the bid conditions, the developer is mandated to fulfil an annual minimum CUF( Capacity Utilisation Factor) requirement of 80%, and a monthly CUF requirement of 70%. Failure to achieve the above requirements in terms of the PPA, would result in removal of tariff escalation in the subsequent year(s), until the above requirements are achieved in a particular year. In terms of the above requirements, the tender therefore achieves a major milestone towards the MNRE's and SECI's efforts in realizing a firm, assured schedulable RE power supply model, which may inevitably, replace a conventional project, at a more viable tariff.
ReNew Solar Power bags 400 MW renewable energy projects at Rs 2.90/unit: MNRE "Golden chapter added in Indian Renewable Energy story, as e-RA for 400 MW RE Projects with Round the Clock (RTC) supply conducted by SECI Ltd results in historic 1st year tariff of Rs 2.90/kWh. MNRE makes a new beginning towards firm, schedulable & affordable RTC supply through 100 per cent RE power, " Power and New & Renewable Energy Minister R K Singh said in a tweet last evening
Starting from 29th September 2019 exciting offers on solar products. hurry up & grab the opportunity to set a solar plant on your roof-top. Contact us:- Future Green Power Solutions Pvt Ltd contact no. - 0141-4051460, 8290122223 toll free no. - 7733999977 for more visit our website- www.fgps.in
Starting from 29th September 2019 exciting offers on solar products. hurry up & grab the opportunity to set a solar plant on your roof-top. Contact us:- Future Green Power Solutions Pvt Ltd contact no. - 0141-4051460, 8290122223 toll free no. - 7733999977 for more visit our website- www.fgps.in
COVID-19 provides opportunities for domestic solar module manufacturing ---------------------------------------------------------------------- The supply disruption from China due to the COVID-19 pandemic and subsequent decline in domestic solar capacity addition offer a golden opportunity to ramp up local manufacturing of solar modules and cells, according to industry experts. However, the industry feels there is an urgent need for a national vision policy for local solar modules manufacturing as well as ancillary products, in line of solar power generation target of 100 gw by 2022 under National Solar Mission. Future Green power Solutions pvt. ltd. 9587700773
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