There has been an increase in wind-solar hybrid projects to meet the round-the-clock renewable energy demand in India.

The lowest tariff discovered in wind-solar hybrid auctions came in at ₹3.07 (~$0.0368)/kWh, 21% higher than the lowest tariff of ₹2.53 (~$0.0304)/kWh in 2022. The tariff increase was driven by the wind turbine shortage and the rise in wind project costs.

Here is the list of the lowest wind-solar hybrid tariffs discovered in auctions during 2023, according to Mercom India Research:

#1 – The lowest tariff of ₹3.07 (~$0.0368)/kWh was quoted by Amp Energy India in the auction to develop 150 MW of the interstate transmission system (ISTS)-connected wind-solar hybrid projects by Kolkata-based power utility company CESC.

#2 – The next lowest tariff of ₹3.27 (~$0.0392)/kWh was quoted by Juniper Green Energy for 75 MW in Tata Power’s auction to develop and procure power from 225 MW of grid-connected intrastate and interstate wind-solar hybrid power projects with a greenshoe option of 225 MW on a long-term basis. Tata Power Renewable Energy won 150 MW out of the quoted capacity of 225 MW at ₹3.28 (~$0.0393)/kWh under the bucket-filling method.

#3 – Solalite Power (O2 Power) and Sprng Energy quoted the lowest tariff of ₹3.35 (~$0.0402)/kWh to win 300 MW and 250 MW, respectively, to win NTPC’s auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects anywhere in India. ACME Cleantech Solutions and Juniper Green won 300 MW and 230 MW by quoting ₹3.36 (~$0.0404)/kWh. Avaada Energy won 24 MW out of the quoted capacity of 300 MW at ₹3.37 (~$0.0405)/kWh. Out of the total 1,500 MW bid capacity, only 1,104 MW was allotted. According to Mercom sources, the aggregate bids received were for only 1,380 MW. The auction capacity was reduced accordingly to 1,104 MW. It was calculated as aggregate bid capacity x 0.8.

#4 – Sprng Akshaya Urja (Sprng Energy) quoted ₹3.99 (~$0.0479)/kWh to win 100 MW in REMC’s auction to supply 1 GW of round-the-clock power for 25 years from renewable power projects with or without storage. NTPC Renewable Energy, Project Nine Renewable Power (Ayana Power) won 500 MW and 300 MW, respectively, by quoting ₹4.10 (~$0.0492)/kWh. TEQ Green Power XIII (O2 Power) won 60 MW, quoting ₹4.27 (~$0.0512) kWh.

#5 – Amp Energy India quoted ₹4.64 (~$0.0557)/kWh to win 100 MW in the Solar Energy Corporation of India auction for developing 1,200 MW of the ISTS-connected wind-solar hybrid power projects (Tranche-VI) with energy storage and assured peak power supply. The other winning bidders ReNew Vikram Shakti (ReNew) won the largest capacity of 600 MW by quoting ₹4.69 (~$0.0562)/kWh, ACME Cleantech Solutions followed with a capacity of 380 MW at ₹4.73 (~$0.0568)/ kWh, while Hero Future Energies won 120 MW at a tariff of ₹4.72 (~$0.0566)/ kWh.