Greenko and ReNew Power win projects under SECI’s 1.2 GW storage-based tenders

The Solar Energy Corporation of India Limited’s 1.2 GW hybrid tender in India coupling pumpedhydro, batteries, solar and wind power has achieved tariffs that are highly competitive against coal power. It received bids for 1.62 GW of capacity in the procurement round and saw the Greenko Group secure 900 MW of pumped storage capacity and ReNew Power 300 MW of renewables-plus-battery storage capacity.

According to sources, Greenko offered a weighted average tariff of Rs 4.04 per kWh and a quoted peak tariff of Rs 6.12 per kWh. Meanwhile, ReNew offered a weighted average bid of Rs 4.30 per unit and quoted peak price of Rs 6.85 per unit.

Greenko had bid for 900 MW, while ReNew Power and HES Infrastructure had bid for 600 MW and 120 MW of capacity, respectively. The total capacity that was bid for totalled to 1,620 MW while the tendered capacity was 1,200 MW.

In August 2019, SECI issued the tender for setting up 1.2 GW of renewable projects connected with the ISTS and with a guaranteed peak power supply (ISTS-VII). Projects were expected to have at least two components – an energy storage system component and a renewable energy generating component. The renewable energy generating component can be a solar system, a wind energy system, or a hybrid system of both technologies. In its tender, SECI specified that projects selected under this request for selection would be eligible for two-part tariffs: peak tariff and off-peak tariff. Energy generated during the off-peak hours would be eligible for a flat tariff payment Rs 2.70 per kWh while the energy generated during peak hours would be purchased at the tariff discovered through e-reverse auction.The weighted average is based on the normative capacity utilisation factor of 35 per cent as mandated by SECI.

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