ReNew Power Wins India’s First Round-The-Clock Renewable Energy Tender

ReNew Power, India’s largest renewable energy company was declared winner of India’s first e-Reverse Auction for a 400 MW renewable energy project with round the clock supply. ReNew Power won the bid on a first year tariff of Rs 2.90 (US¢3.81) per kilowatt hour with a 3% annual escalation for the first 15 years of the 25-year term of the Power Purchase Agreement (PPA).
ReNew Power Wins India’s First Round-The-Clock Renewable Energy Tender
Courtesy of NREL

The bidding was conducted by Solar Energy Corporation of India (SECI) a Central PSU under Ministry of New and Renewable Energy (MNRE). The power generated by the project will be supplied to New Delhi Municipal Corporation (NDMC), Daman and Diu & 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% capacity utilization annually and 70% PLF every month to the buying Discoms throughout the term of the PPA. A normal renewable energy project in India operates with the capacity utilization rate of 30-40% depending upon the choice of technology and resource availability.

Speaking about the historic win, Chairman and Managing Director of ReNew Power, Sumant Sinha,  said, “The tariff rate, the need for round the clock supply, 80% annual CUF and 100% 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 energy storage tender held by SECI earlier this year.

Baterías con premio en la gran feria europea del almacenamiento de energía
El jurado de la feria ees (la gran feria europea de las baterías y los sistemas acumuladores de energía) ya ha seleccionado los productos y soluciones innovadoras que aspiran, como finalistas, al gran premio ees 2021. Independientemente de cuál o cuáles sean las candidaturas ganadoras, la sola inclusión en este exquisito grupo VIP constituye todo un éxito para las empresas. A continuación, los diez finalistas 2021 de los ees Award (ees es una de las cuatro ferias que integran el gran evento anual europeo del sector de la energía, The smarter E).