Acme, SAEL, Essar, Onward, NTPC REL Win SJVN Solar Auction

Major players have been awarded contracts to develop 1.2 GW of Interstate Transmission System (ISTS)-connected solar power projects across India. The auction, held in May, has seen prominent companies, viz. ACME Solar Holdings, SAEL Industries, Essar Renewables, Onward Solar Power, and NTPC Renewable Energy (NTPC REL) secure substantial capacities.

ACME Solar Holdings, SAEL Industries, and Essar Renewables each won 300 MW of capacity at a tariff of INR 2.52 per kWh. Onward Solar Power was awarded 100 MW at the same tariff, while NTPC REL secured 200 MW out of its quoted capacity of 400 MW with a slightly higher tariff of INR 2.53 per kWh under the bucket-filling method.

The tender allowed bidders to propose projects ranging from a minimum of 50 MW to a maximum of 600 MW, and they were permitted to offer projects at multiple locations. Each project was required to use solar modules listed in the latest Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy (MNRE). This requirement ensures the use of high-quality and approved technology for the projects.

This auction is part of a broader initiative by SJVN to expand its renewable energy portfolio. In July, SJVN also invited bids for the establishment of 1,200 MW of ISTS-connected wind-solar hybrid projects in India.

Additionally, in March, SJVN sought bids for 600 MW of firm and dispatchable power from ISTS-connected renewable energy storage systems. As of December 2023, the Renewable Energy Implementing Agencies, including SJVN, have issued a total of 35.51 GW of project tenders, working towards the 50 GW target for the financial year 2023-24.

This significant progress underscores the ongoing efforts to enhance India’s renewable energy infrastructure and meet ambitious clean energy goals.