ReNew and Greenko to develop 1.2GW solar-wind-plus-storage project

• ReNew Power, Greenko Group have been selected for development of 1.2-gigawatt hybrid solar and wind power plants with battery storage in the tender held by Indian SECI.

Greenko Group PLC has won the auction for development of 900 megawatts of capacity. One of the leading Indian renewable energy firms has submitted an offer with a peak hour rate of 6.12 rupees per kilowatt-hour. 

At the same time, ReNew Power Limited, the country’s largest renewables IPP, has been approved for the deployment of 300 megawatts, by proposing a bid at a peak tariff of 6.85 rupees.

The auction for 1.2 gigawatts of green power projects connected to inter-state transmission system based on a Build Own Operate mechanism with guaranteed peak power supply was launched in late summer of 2020. 

The tender winners will be responsible for designing, supplying, engineering, constructing, installing, testing, as well as commissioning of the installations.

Solar Energy Corp. will conclude a 25-year agreement with the selected tenderers on the basis of Request for Selection for procurement of power in accordance with the RfS’s conditions and terms.

The energy purchased by the corporation is to be further sold to various Indian utility companies. The power generated by the projects is covered by TPT schedule. Electricity produced in off peak time is to be purchased at a fixed rate of 2.7 rupees per kilowatt-hour. As for peak-hour power, it is subject to peak rate determined by an electronic reverse auction.