Three companies won 1.2 GW of solar-wind hybrid projects quoting a tariff of ₹2.41 (~$0.0326)/kWh – the lowest-ever for solar-wind hybrid projects, according to Mercom’s sources.
The tariff was discovered in the Solar Energy Corporation of India’s (SECI) auction for setting up 1.2 GW of interstate transmission-connected wind-solar hybrid power projects under Tranche III of the interstate transmission (ISTS) program.
ABC Renewable Energy, a subsidiary of Axis Energy, was awarded 380 MW of projects, Adani Renewable Energy Holding Eight Limited was awarded 600 MW, and AMP Energy was awarded 130 MW for ₹2.41 (0.0326)/kWh. ACME Solar quoted ₹2.42 (~$0.0327)/kWh for 300 MW of projects but was only awarded 90 MW under the bucket-filling method.
In December, Mercom had reported on the announcement of tender for 1,200 MW of wind-solar hybrid projects issued under the Tranche III of the ISTS program.
The detailed hybrid tender documents were then floated in January.
Selected bidders must set up the wind-solar hybrid power projects in India on a build-own-operate (BOO) basis and sell the hybrid power to SECI. The projects are required to be designed for the interconnection with the transmission network of the Central Transmission Utility (CTU) at a voltage level of 220 kV or above. The developer will bear the responsibility of getting the ISTS connectivity and long-term access.
SECI also said that the rated installed project capacity of one of the components of the hybrid project – either wind or solar – must be 25% of the capacity of the other. The tender also mandated a minimum capacity utilization factor of 30%.
The solar component of the project can be sub-divided into blocks set up at multiple locations. However, such projects have to be located within the same state, and the minimum voltage level for a single block should be 33 kV.
According to Mercom’s India Solar Tender Tracker, SECI has tendered a total of 4.9 GW of solar wind hybrid projects under the ISTS program (Tranche I to Tranche III) and auctioned 1.56 GW under Tranche I & II.
In the country’s first-ever solar-wind hybrid auction in December 2018, SECI had discovered the previous lowest-ever L1 tariff of ₹2.67 (~$0.0361)/kWh quoted by SB Energy to develop 450 MW of projects. AGEL quoted ₹2.69 (~$0.0364)/kWh to develop 390 MW of projects.
In 2019, Adani Green Energy emerged as the L1 bidder in the auction conducted by SECI for 1.2 GW of ISTS-connected solar-wind hybrid power projects under Tranche-II. Adani Green Energy Limited Energy quoted a tariff of ₹2.69 (~$0.0364)/kWh to set up 600 MW of solar-wind hybrid projects.
Nithin is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.