JSW Neo Energy (JSW Energy), Tata Power Renewable Energy, Avaada Energy, and Juniper Green Energy have won Maharashtra State Electricity Distribution Company’s (MSEDCL) auction to supply 1,650 MW of wind-solar hybrid power on a long-term basis from grid-connected intrastate projects with a greenshoe option of up to 1,650 MW.

JSW Neo secured a total of 600 MW (200 MW initially plus 400 MW under the greenshoe option) at a tariff of ₹3.60 (~$0.0428)/kWh. Tata Power won 400 MW (200 MW plus 200 MW greenshoe) at the same rate of ₹3.60 (~$0.0428)/kWh.

Avaada Energy was awarded 500 MW (13 MW plus 487 MW greenshoe) at ₹3.60 (~$0.0428)/kWh. Juniper Green secured 150 MW (75 MW plus another 75 MW greenshoe), also at ₹3.60 (~$0.0428)/kWh.

The tender was initially floated in July for a capacity of 1,150 MW. Later, the capacity was increased to 1,650 MW.

The Maharashtra Electricity Regulatory Commission has approved the tariffs for the 1,650 MW capacity.

In the initial auction, JSW Neo won 200 MW at ₹3.60 (~$0.0428)/kWh, Juniper secured 75 MW at ₹3.65 (~$0.0434)/kWh, Tata Power was awarded 200 MW at ₹3.68 (~$0.0437)/kWh, and Avaada won 13 MW at ₹3.69 (~$0.0438)/kWh.

After the initial auction, Tata Power matched the lowest tariff (L1) rate of ₹3.60 (~$0.0428)/kWh for its 200 MW capacity.

Following this, bidders were invited to offer more capacity under the greenshoe option, provided they matched the L1 tariff. JSW Neo offered an extra 400 MW, and Tata Power offered another 200 MW at this rate. MSEDCL accepted both offers.

Later, Avaada Energy and Juniper Green offered 500 MW (13 MW + 487 MW greenshoe) and 150 MW (75 MW + 75 MW greenshoe), respectively, at ₹3.60 (~$0.0428)/kWh.

In March, MSEDCL invited bids to procure 500 MW of wind-solar hybrid power.

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