SJVN concludes e-reverse auction for 1500 MW power Projects

Shimla: Sh. Nand Lal Sharma, Chairman & Managing Director, SJVN Limited apprised that as a Renewable Energy Implementing Agency (REIA) SJVN has successfully concluded its first ever E-Reverse Auction (e-RA) for Selection of RE Power Developers for Supply of 1500 MW Power Projects with Energy Storage System in India. 

Sh. Sharma further told that, SJVN’s auction to supply 1500 MW power from interstate transmission system connected renewable projects with energy storage across India attracted nine companies. Seven of them got their quoted capacity at a tariff of around Rs. 4.38/- per unit. The successful bidders include ACME, JUNIPER & Tata Power. 

Sh. Nand Lal Sharma further told that Ministry of New and Renewable Energy (MNRE), Government of India has designated SJVN as Intermediary Procurer/ Renewable Energy Implementing Agency (REIA) for Competitive Bidding Process for Procurement of Renewable Power. SJVN became the fourth Renewable Energy Implementing Agency in addition to SECI, NTPC and NHPC.

Sh. Sharma further said that, in accordance with Prime Minister’s announcement of achieving 500 GW of installed electricity capacity from non-fossil fuel sources by 2030. The Government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years i.e., from Financial Year 2023-24 till Financial Year 2027-28. 

SJVN will co-ordinate with other REIAs for floating of tenders and opening of bids to avoid concurrent bids for similar projects. The MNRE has prepared a roadmap for bidding out 50 GW of RE projects every year to attain the target of putting in place 500 GW of RE projects by 2030. 

SJVN will be floating bids for Renewable Energy Projects in accordance with relevant Standard Bidding Guidelines issued by the Government while abiding with MNRE’s advice in relation with tenders. The Ministry of Power is already working on upgrading and adding the transmission system capacity for evacuating 500 GW of electricity from non-fossil fuel.