SJVN Concludes Successful 1500 MW Solar Power Auction

Geeta Kapur, CMD of SJVN, took to social media platform X to announce the successful conclusion of the electronic Reverse Auction (e-RA) for the selection of Solar Power Developers.

February 10, 2024. By Abha Rustagi

SJVN Limited has successfully concluded a significant reverse auction for solar technology. The aim was to procure 1500 MW of solar power capacity, with intense competition witnessed among several bidders striving to secure contracts at competitive tariffs.

Geeta Kapur, CMD of SJVN, took to social media platform X to announce the successful conclusion of the electronic Reverse Auction (e-RA) for the selection of Solar Power Developers. The projects, totaling 1500 MW capacity, are to be set up anywhere in India under Tariff-Based Competitive Bidding.

The auction yielded tariffs ranging from INR 2.52/kWh to INR 2.54/kWh, with SJVN set to receive a trading margin of INR 0.07/kWh. Notably, SJVN has been designated as the Renewable Energy Implementing Agency (REIA) by the Ministry of New and Renewable Energy to invite bids for 50 GW of renewable energy capacity annually over the next five financial years.

Among the leading bidders, Solarcraft Power India 8 Pvt. Ltd. emerged prominently, securing 300 MW of awarded capacity at a final tariff of INR 2.52/kWh. Following closely behind were GRT Jewellers (India) Pvt. Ltd. and Furies Solren Pvt. Ltd., both securing 150 MW each at the same tariff rate.

JSW New Energy Limited showcased its strength by securing the highest bid capacity of 700 MW while maintaining a competitive tariff of INR 2.53/kWh. NTPC Renewable Energy Limited secured 50 MW at a slightly higher tariff of INR 2.54/kWh.

Despite participation, ACME Cleantech Solutions Pvt. Ltd., Apraava Energy Pvt. Ltd., ReNew Solar Power Pvt. Ltd., and Datta Power Infra Pvt. Ltd. were not awarded any capacity in this auction.

Tags:

Electronic Reverse Auction

E-RA

TBCB

GRT Jewellers (India)

NTPC REL

NTPC Renewable Energy Limited