SJVN Awards 1.2 GW Solar-Plus-Storage Tender To Six Firms

SJVN Ltd has awarded its 1.2 GW solar-plus-energy-storage tender to six developers, including Anil Ambani promoted  Reliance NU Energies, Sembcorp Industries Ltd, Jindal India Renewable Energy, JBM Group, SAEL Ltd, and Fastnote Biofuels (Hindustan Power), the company said. SJVN tender for this project was issued eight months ago in in August 2024 and attracted 18 bidders.

While Fastnote Biofuels won 100 MW at the lowest bid price of Rs 3.30/kWh, Reliance Nu Energies walked away with the largest share of 600 MW with its bid at Rs 3.33/kWh. Jindal India Renewable Energy (300 MW) JBM Group(150 MW) , Sembcorp Green Infra (150 MW),  SAEL Ltd (150 MW) were each awarded 150 MW at Rs 3.32/unit.

The projects are bundled with a 600 MW/2,400 MWh energy storage system (ESS), and developers are required to build Interstate Transmission System (ISTS)-connected solar PV projects on a Build, Own, Operate (BOO) basis. The latest tariffs represent a 6% drop from the previous record of Rs 3.52/kWh for solar-plus-storage with four-hour BESS, recorded in September 2023. The tender envisages a CUF of 30%, thanks to the absence of any requirement for wind energy, which would have taken the CUF higher, but with a jump in bid prices as well.

The 25 year PPA for the winners is for a Build Own Operate (BOO) format  and  prescribes an ESS (of 0.5MW/2 MWh per 1 MW solar capacity) to meet 100% availability. The project developers is allowed to source max 5% of annual energy from green markets sources /bilateral agreements.

The prices are broadly on expected lines, considering the stability seen in solar prices besides the drop in BESS costs since the last tender in Sep 2023.  With execution only expected by 2027, the project will come at a critical time for India with share of renewables in the grid, particularly solar and wind together expected to be over 50% higher than present levels, at present rates of capacity additions.