The winners of SJVN’s (Satluj Jal Vidyut Nigam) auction to develop 1,500 MW of inter-state transmission system-connected solar power projects have been announced, marking a significant step towards India’s clean energy goals. Launched in November 2023, the auction attracted competitive bids from leading companies.
Competitive Bidding, Competitive Prices:
Solarcraft Power India 8 (Blupine Energy) and GRT Jewellers secured 300 MW and 150 MW projects, respectively, with tariffs of Rs 2.52 per kWh. Furies Solren (Mahindra & Mahindra) and JSW Neo Energy emerged as the biggest winners, bagging 300 MW and 700 MW projects at Rs 2.53 per kWh.
NTPC Renewable Energy Limited rounded out the auction by winning 50 MW at Rs 2.54 per kWh. These competitive tariffs highlight the declining cost of solar power in India.
Local Focus and Project Responsibilities:
The winning bidders will be responsible for land acquisition for their projects. Notably, the tender has mandated the use of indigenously manufactured solar modules, promoting India’s domestic solar manufacturing industry.
Beyond the Auction:
SJVN’s activities extend beyond this significant auction. In February 2024, SJVN Green Energy Limited secured a 200 MW solar project in Gujarat and issued a tender for developing 1,500 MW of wind-solar hybrid projects. Earlier in January, the government approved SJVN’s plans to establish joint ventures for hydro and renewable projects with a combined capacity of 8,778 MW in India and Nepal.
Overall Significance:
SJVN’s auction results and broader activities demonstrate a strong commitment to expanding India’s renewable energy capacity. The competitive tariffs achieved suggest a bright future for cost-effective solar power in the country. By promoting local manufacturing and pursuing diverse projects, SJVN is playing a key role in India’s clean energy transition.
Reference- SJVN Newsroom, Mercom India, Business Standard, Economic Times