The Central Electricity Regulatory Commission has issued an order regarding the adoption of tariffs for a 1,200 MW wind-solar hybrid power project. This project, developed under a competitive bidding process, is connected to the inter-state transmission system and aims to provide peak power supply. The Solar Energy Corporation of India (SECI) initiated the bidding process, received responses from several companies, and finalized agreements with selected developers.
SECI floated a request for selection in November 2022, receiving eight bids for a total capacity of 2,390 MW. Following a thorough evaluation, four companies were awarded contracts for a combined capacity of 1,200 MW. These companies include AMP Energy Green Private Limited, ReNew Vikram Shakti Private Limited, Hero Solar Energy Private Limited, and ACME Cleantech Solutions Private Limited. The selected bidders were issued letters of award in April 2023.
SECI subsequently signed power supply agreements with Assam Power Distribution Company Limited for 100 MW and Chhattisgarh State Power Distribution Company Limited for 500 MW. In addition, power purchase agreements were executed with AMP Energy Green Sixteen Private Limited, Clean Renewable Energy (Barmer) Private Limited, and ACME Urja One Private Limited for different capacities.
The competitive bidding process determined the tariffs for the project, ranging from ₹4.64 to ₹4.73 per kWh. The lowest tariff was offered by AMP Energy Green Private Limited at ₹4.64 per kWh, followed by ReNew Vikram Shakti Private Limited at ₹4.69 per kWh. SECI has also requested approval for a trading margin of ₹0.07 per kWh, which has been agreed upon by the distribution companies.
The commission reviewed SECI’s submissions and confirmed that the bidding process was conducted transparently and following established guidelines. It was noted that SECI is responsible for entering into agreements with developers and ensuring the supply of power to distribution companies.
The order also discusses the financial and contractual obligations of SECI and developers, including the requirement for payment security mechanisms. SECI is required to establish a letter of credit to ensure timely payments to developers. Additionally, developers are expected to meet financial closure requirements and achieve full project commissioning within the specified timeframe.
The commission has approved the adoption of the discovered tariffs for the entire 1,200 MW capacity, with the condition that SECI finalizes agreements for the remaining 600 MW. SECI is required to submit documentation once the agreements are signed. If SECI fails to secure contracts for the full capacity, it must inform the commission accordingly.
The project is expected to enhance renewable energy generation and provide a reliable peak power supply. The hybrid nature of the project, combining wind and solar energy, ensures a stable and efficient power output. The commission’s approval facilitates the smooth implementation of the project, supporting India’s renewable energy goals and ensuring affordable power for consumers.
