Renew Power wins 400 MW ‘round-the-clock’ renewables auction at Rs2.90/kWh

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The Solar Energy Corporation of India has concluded its 400 MW ‘round-the-clock’ renewables tender to supply 24-hour electricity.

The winning developer will produce power from a 200 MW generation facility for New Delhi Municipal Council and a plant of the same size which will supply the Dadra & Nagar Haveli utility.

With bids received for almost 950 MW of generation capacity, Haryana-based developer ReNew Power secured both projects by agreeing to accept Rs2.90/kWh generated. The tariff will increase by 3% per year for the first 15 years of the 25-year power supply deal secured by ReNew before becoming a fixed payment.

The developer must supply energy around the clock from the facility and can choose any combination of solar and wind generation facilities and energy storage system necessary to do so.

The projects concerned can be established anywhere in India and will be connected to the interstate electric transmission system.

This article was amended on 11/05/20 to state the total length of the power supply deal awarded ReNew Power is 25 years.