Advertise Here [728px W x 90px H pixels]
Infrastructure Today Magazine | ReNew Power Bags Country’s First Round-the-Clock RE Tender
ReNew Power Bags Country’s First Round-the-Clock RE Tender
May 14, 2020
India’s largest renewable energy company ReNew Power was declared the winner of the country’s first e-reverse auction for 400 MW renewable energy projects with round-the-clock supply. ReNew Power won the bid on the first-year tariff of Rs 2.90/kWh with a 3 per cent annual escalation for the first 15 years of the 25-year term of the power purchase agreement (PPA). The bidding was conducted by Solar Energy Corp. of India (SECI), a central PSU under the Ministry of New and Renewable Energy (MNRE).
The power generated by the project will be supplied to New Delhi Municipal Corporation (NDMC) and the union territory of Daman and Diu and Dadra and Nagar Haveli.
The tender conditions require the project to be commissioned within 24 months from the signing of PPA.
Under the terms of agreement ReNew Power will have to ensure that it operates and maintains with 80 per cent capacity utilisation annually and 70 per cent plant load factor (PLF) every month to the buying distribution companies throughout the tenor of the PPA. A normal renewable energy project in India operates with the capacity utilisation rate of 30-40 per cent depending upon the choice of technology and resource availability.
Speaking on their successful bid, Sumant Sinha, Chairman & Managing Director, ReNew Power, said, “The tariff rate, the need for round the clock supply, 80 per cent annual capacity utilisation factor (CUF) and 100 per cent power from renewable sources made this one of the most unique tenders of the Indian renewable energy sector. By winning this tender, ReNew has set a new benchmark for providing stable power through clean energy sources.”
ReNew had also emerged as one of the winners in the world’s largest renewable-cum-energy storage tender held by SECI earlier this year.
Renewable Energy Tender
Ministry Of New And Renewable Energy
Solar Energy Corporation Of India
Advertise Here [468 W x 60 H pixels]
YOU MIGHT ALSO LIKE
Leave a comment