SJVN, a leading Indian power company, has successfully completed an auction for 1,200 MW of grid-connected renewable energy projects. The auction received a total of 448 MW in bids, with tariffs ranging from ₹4.82 to ₹4.91 per kWh. The lowest tariff offered was ₹4.82 per kWh, indicating a highly competitive market for renewable energy in India.
Five companies secured contracts in the auction: ReNew Solar, EG Energy, Dineshchandra R Agrawal Infracon, Serentica Renewable, and Tata Power Renewable Energy. ReNew Solar offered the most competitive bid, securing 100 MW at the lowest tariff of ₹4.82 per kWh. The other successful bidders included EG Energy, Dineshchandra R Agrawal Infracon, and Serentica Renewable, who secured 60 MW, 100 MW, and 100 MW respectively at tariffs ranging from ₹4.83 to ₹4.89 per kWh. Tata Power Renewable Energy secured 88 MW at the highest tariff of ₹4.91 per kWh.
The auction was open to bidders with a minimum bid capacity of 50 MW and a maximum of 600 MW. The projects will utilize only commercially established technologies to minimize risks and ensure timely commissioning. The successful bidders must maintain an annual capacity utilization factor of at least 75% and adhere to government-issued guidelines for solar and wind power projects. These measures aim to ensure efficiency and reliability in India’s renewable energy expansion. The auction is a significant step forward in India’s mission to increase its renewable energy capacity and reduce dependence on fossil fuels.