Vikram Solar’s IPO Oversubscribed by Over 54 Times 

SECI Tenders 600 MW/1,200 MWh BESS Project in Andhra Pradesh

BERC Issues Draft Deviation Settlement Mechanism Regulations

Andhra Pradesh Proposes Virtual and Group Net Metering for Rooftop Solar

Aster DM Healthcare Partners with U-Solar for 8.5 MW Solar Project in Kerala

SJVN Green Floats EPC Tender for 500 MW Solar Projects in Rajasthan

Daily News Wrap-Up: Prostarm Wins KTPCL’s 150 MW/300 MWh BESS Auction

ACME Cleantech Wins SECI’s 100,000 TPA Green Ammonia Auction

Terra Clean Issues Land Aggregation Tender for 300 MW Solar Project

Imports Threaten India’s Solar Component Ecosystem: Interview


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/08/amazon_polly_83449.mp3?version=1755667112">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><strong>From: <a href="https://mercomcapital.com/funding-and-ma-roundup-activ8-energies-acquires-low-carbon-energy/" target="_blank" rel="noopener">Mercom Capital Group</a></strong></p>
<p><strong>Activ8 Energies, an Ireland-based solar panel provider, has </strong><a href="https://mercomcapital.com/activ8-energies-acquires-low-carbon-energy/" target="_blank" rel="noopener"><strong>acquired</strong></a><strong> solar energy solutions provider, Low Carbon Energy</strong>. Through this acquisition, Activ8, which is 50% owned by SSE Airtricity, a subsidiary of SSE, plans to double its turnover and installed solar capacity in the coming years as it aims to expand its service beyond Ireland with the goal of becoming a leading renewable energy provider for commercial and industrial sectors in the U.K. Low Carbon Energy will continue operating under its existing brand in the near term.</p>
<p><strong>Entrepreneur and investor Nikhil Kamath, co-founder of online stock broking firm Zerodha, has </strong><a href="https://www.mercomindia.com/nikhil-kamath-invests-%E2%82%B91-37-billion-in-module-manufacturer-goldi-solar" target="_blank" rel="noopener"><strong>invested</strong></a><strong> ₹1.37 billion (~$15.68 million) in solar module manufacturer Goldi Solar.</strong> The investment will enable Goldi Solar, with manufacturing facilities in Gujarat, India, to expand its solar module production capacity. Goldi Solar said it has nearly tripled its module manufacturing capacity from 3 GW to 14.7 GW in the last 12 months. It is also expanding its solar cell manufacturing in Surat, Gujarat.</p>
<p><strong>Independent renewable energy producer, Juniper Green Energy, has </strong><a href="https://www.mercomindia.com/juniper-green-energy-secures-%E2%82%B917-billion-debt-financing-from-ireda" target="_blank" rel="noopener"><strong>secured</strong></a><strong> ₹17.39 billion (~$198.4 million) in debt financing</strong> from the Indian Renewable Energy Development Agency (IREDA). The funds will be utilized to execute the company’s large-scale renewable energy projects and strengthen its operational capacity. In February 2025, Juniper had raised $1 billion in debt from Power Finance Corporation, DBS Bank, HSBC Bank, and IREDA. The funding was intended to support its wind-solar hybrid and firm and dispatchable renewable energy projects.</p>
<p><strong>Combined carbon dioxide (CO<sub>2</sub>) removal and green hydrogen production company Equatic has </strong><a href="https://www.mercomindia.com/carbon-removal-firm-equatic-raises-series-a-round" target="_blank" rel="noopener"><strong>closed</strong></a><strong> its Series A funding round</strong>, raising $11.6 million. The funding round was led by Temasek Trust’s catalytic vehicle, Catalytic Capital for Climate and Health, and Singapore-based private investment office Kibo Invest. Equatic will utilize the funds to accelerate the engineering scale-up and commercialization of its patented seawater electrolysis technology. The company claims to produce green hydrogen from seawater while capturing and storing carbon dioxide.</p>
<p>For reports and trackers on funding and M&amp;A transactions in solar, energy storage, and smart grid sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener">here</a>.</p>
<p>Read last week&#8217;s funding <a href="https://www.mercomindia.com/funding-and-ma-roundup-energy-vault-to-raise-300-million" target="_blank" rel="noopener">roundup</a>.</p>


Funding and M&A Roundup: Activ8 Energies Acquires Low Carbon Energy


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/08/amazon_polly_83419.mp3?version=1755750812">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, <a href="https://www.necltd.com/" target="_blank" rel="noopener">Navayuga Engineering Company</a>, <a href="https://www.acmesolar.in/" target="_blank" rel="noopener">ACME Solar Holdings</a>, and <a href="https://www.tatapower.com/renewables" target="_blank" rel="noopener">Tata Power Renewable Energy</a> have won <a href="https://www.tatapower.com/" target="_blank" rel="noopener">Tata Power Company’s</a> <span data-teams="true">auction to supply 250 MW of firm and dispatchable renewable energy (FDRE) from projects integrated with energy storage systems (ESS) on a build-own-operate basis.</span></p>
<p>Juniper Green Energy secured 70 MW with a quoted tariff of ₹4.76/kWh (~$0.0547). Navayuga Engineering won 50 MW at ₹4.76/kWh (~$0.0547), while ACME Solar also secured 50 MW at the same tariff. Tata Power Renewable Energy won the largest share of 80 MW at a tariff of ₹4.77/kWh (~$0.0548).</p>
<p>The selected bidders will sign a power purchase agreement for 25 years.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-83483 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image.png" alt="Tata Power Company Auction " width="698" height="313" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image.png 698w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image-300x135.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image-650x291.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image-624x280.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/08/Tata-Power-Company-Auction-image-600x269.png 600w" sizes="(max-width: 698px) 100vw, 698px" /></a></p>
<p>The tender was <a href="https://www.mercomindia.com/tata-power-d-invites-bids-for-250-mw-renewable-energy-with-storage" target="_blank" rel="noopener">floated</a> in April this year.</p>
<p>The renewable energy sources eligible under this tender include solar, wind, or other renewable options, but all projects must incorporate an ESS charged exclusively by renewable energy. The ESS requirement is designed to ensure dispatchable supply, addressing intermittency concerns associated with renewable generation.</p>
<p>For projects located outside Maharashtra, the tender specified that bidders must include interstate transmission system (ISTS) charges of ₹0.11/kWh (~$0.00128) and transmission losses of ₹0.22/kWh (~$0.00257) over and above their quoted tariff.</p>
<p>According to the terms of the tender, the ISTS charges and losses quoted by such interstate projects were to be considered solely for the purpose of bid evaluation, aiming to create parity between interstate and intrastate projects.</p>
<p>Transmission charges and losses for projects connected to the Maharashtra State Transmission Utility system were considered nil, as Tata Power-D holds long-term transmission system user status in the state.</p>
<p>In February this year, Tata Power Renewable Energy <a href="https://www.mercomindia.com/renew-eg-energy-dineshchandra-serentica-tata-win-sjvns-1-2-gw-fdre-auction" target="_blank" rel="noopener">emerged</a> as one of the winners of SJVN’s auction to develop 1,200 MW ISTS-connected projects to supply firm and dispatchable renewable energy, by securing 88 MW at a quoted tariff of ₹4.91 (~$0.0562)/kWh.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real-time.</p>


Juniper, Navayuga Among Winners of Tata Power’s 250 MW FDRE Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63643.mp3?version=1708695089">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>BN Hybrid Power-1 (<a href="https://brightnightpower.com/" target="_blank" rel="noopener">BrightNight</a>), Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), Solarcraft Power India 20 (<a href="https://blupineenergy.com/" target="_blank" rel="noopener">BluPine Energy</a>), <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>), and <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Cleantech Solutions</a> were declared winners in NHPC’s auction to supply 1.5 GW of firm and dispatchable renewable power (Peak Power Supply) from inter-state transmission system (ISTS)-connected projects coupled with energy storage systems anywhere in India.</p>
<p>BN Hybrid Power-1 quoted the lowest tariff of ₹4.55 (~$0.0549)/kWh to win 120 MW, while Hero Solar and Solarcraft quoted ₹4.63 (~$0.0558)/kWh to win 100 MW and 50 MW, respectively.</p>
<p>Juniper and ReNew quoted ₹4.64 (~$0.0560)/kWh to win 200 MW and 250 MW. ACME won 680 MW out of the 750 MW quoted capacity at ₹4.64 (~$0.0560)/kWh.</p>
<p>Bids from TEQ Green Power IX (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>) of ₹4.74 (~$0.0572)/kWh for 150 MW and <a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener">Tata Power Renewable Energy</a> of ₹4.95 (~$0.0597)/kWh for 100 MW did not qualify.</p>
<p>A total of 1,400 MW capacity was awarded out of 1,500 MW.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-63644" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results.png" alt="NHPC 1.5 GW FDRE Auction results" width="626" height="345" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results.png 626w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-300x165.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-624x344.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-FDRE-Auction-results-600x331.png 600w" sizes="(max-width: 626px) 100vw, 626px" /></p>
<p>NHPC <a href="https://www.mercomindia.com/nhpc-invites-bids-for-renewable-ists-connected-projects" target="_blank" rel="noopener">floated</a> the tender for the projects in October 2023.</p>
<p>Under the tender, bidders were given the flexibility to choose any location within India for their projects. They can identify and acquire or lease the land of their choice for the project without specific restrictions on geographical location within the country.</p>
<p>The selected project developers must utilize well-established and operational technologies that are commercially viable. Making use of such established technologies is aimed at minimizing technology-related risks and ensuring the successful commissioning of the projects.</p>
<p>Projects that are already commissioned or are in the process of construction and have untied capacity are allowed under this tender. Projects with already set-up capacity or spare untied capacity that is not under any power supply agreement and is available for augmenting the proposed renewable power in the tender can also qualify.</p>
<p>The projects under this tender will not be eligible for any Central Financial Assistance.</p>
<p>NHPC recently <a href="https://www.mercomindia.com/juniper-o2-avaada-win-nhpcs-hybrid-auction" target="_blank" rel="noopener">declared</a> the winners of its auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects anywhere in India.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders and auctions issued by various agencies in India.</p>


BrightNight, ReNew, ACME Among Winners of NHPC’s 1.5 GW Renewables Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63248.mp3?version=1707993279">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p><a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, Energizent Power (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>), and <a href="https://avaada.com/" target="_blank" rel="noopener">Avaada Energy</a> have won NHPC’s auction to set up 1,500 MW of interstate transmission system (ISTS)-connected wind-solar hybrid power projects anywhere in India.</p>
<p>Juniper won 150 MW capacity by quoting ₹3.48 (~$0.0419)/kWh, and Energizent won 300 MW at ₹3.49 (~$0.0421)/kWh.</p>
<p>Avaada won 510 MW out of the total 750 MW bid capacity by quoting ₹3.49 (~$0.0421)/kWh.</p>
<p>Aggregate bids received were for only 1,200 MW. The auction capacity was reduced accordingly to 960 MW. It was calculated as aggregate bid capacity x 0.8.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-63250" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction.png" alt="NHPC 1.5 GW Wind-Solar Hybrid Auction" width="717" height="267" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction.png 717w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction-300x112.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction-650x242.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction-624x232.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/NHPC-1.5-GW-Wind-Solar-Hybrid-Auction-600x223.png 600w" sizes="(max-width: 717px) 100vw, 717px" /></p>
<p>NHPC had <a href="https://www.mercomindia.com/nhpc-wind-solar-hybrid-project" target="_blank" rel="noopener">floated</a> the tender in November 2023.</p>
<p>The rated installed project capacity of either of the two components – solar and wind, should be at least 33% of the contracted capacity.</p>
<p>The declared annual capacity utilization factor (CUF) should not be less than 30%. The selected developers should maintain the energy supply to achieve an annual supply corresponding to CUF that is not less than 90% of the declared value and not more than 120% of the declared CUF value during the power purchase agreement duration of 25 years.</p>
<p>Only wind turbine models from the Revised List of Models and Manufacturers and solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy must be deployed.</p>
<p>As of December 2023, the designated Renewable Energy Implementing Agencies by the Ministry of New and Renewable Energy had <a href="https://www.mercomindia.com/agencies-tender-35-51-gw-renewables-fy24-trajectory" target="_blank" rel="noopener">issued</a> 35.51 GW of project tenders against the 50 GW target for the financial year 2023-24. NHPC accounted for 11% of the total capacity tendered during the period.</p>
<p>In October 2023, NHPC <a href="https://www.mercomindia.com/nhpc-invites-bids-for-renewable-ists-connected-projects" target="_blank" rel="noopener">invited</a> bids to select developers to supply 1.5 GW of ‘firm and dispatchable’ renewable power from ISTS-connected projects coupled with energy storage systems anywhere in India.</p>
<p>Subscribe to Mercom’s <a href="https://www.mercomindia.com/product/india-solar-tender-tracker" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender and auction activity in real time.</p>


Juniper, O2 Power and Avaada Win NHPC’s 1.5 GW Wind-Solar Hybrid Auction


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/12/amazon_polly_61723.mp3?version=1703923363">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>There has been an increase in wind-solar hybrid projects to meet the round-the-clock renewable energy demand in India.</p>
<p>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.</p>
<p>Here is the list of the lowest wind-solar hybrid tariffs discovered in auctions during 2023, according to Mercom India Research:</p>
<p><strong>#1 &#8211;</strong> The lowest tariff of ₹3.07 (~$0.0368)/kWh was <a href="https://www.mercomindia.com/amp-india-cesc-wind-solar-hybrid-tender" target="_blank" rel="noopener">quoted</a> 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.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61724" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1.jpg" alt="Solar - wind hybrid tariff 1" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-600x90.jpg 600w" sizes="(max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#2 –</strong> The next lowest tariff of ₹3.27 (~$0.0392)/kWh was <a href="https://www.mercomindia.com/juniper-green-tata-renewable-win-225-mw-hybrid-auction" target="_blank" rel="noopener">quoted</a> 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.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61727" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2.jpg" alt="Solar - wind hybrid tariff 2" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-600x90.jpg 600w" sizes="(max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#3 &#8211; </strong>Solalite Power (O2 Power) and Sprng Energy <a href="https://www.mercomindia.com/ntpcs-1-5-gw-wind-solar-auction" target="_blank" rel="noopener">quoted</a> 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.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61730" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3.jpg" alt="Solar - wind hybrid tariff 3" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-600x90.jpg 600w" sizes="(max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#4 –</strong> Sprng Akshaya Urja (Sprng Energy) <a href="https://www.mercomindia.com/sprng-ntpc-ayana-o2-1-gw-hybrid-auction">quoted</a> ₹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.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61732" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4.jpg" alt="Solar - wind hybrid tariff 4" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-600x90.jpg 600w" sizes="(max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#5 – </strong>Amp Energy India <a href="https://www.mercomindia.com/amp-energy-renew-hero-2-gw-hybrid-tender">quoted</a> ₹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.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61734" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5.jpg" alt="Solar - wind hybrid tariff 5" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-600x90.jpg 600w" sizes="(max-width: 1667px) 100vw, 1667px" /></p>


Lowest Wind-Solar Hybrid Tariffs in India During 2023 [Infographics]

<p>The Maharashtra Electricity Regulatory Commission (<a href="https://www.merc.gov.in/" target="_blank" rel="noopener noreferrer">MERC</a>) has approved the tariff discovered by MSEDCL through the competitive bidding process and has allowed the procurement of 500 MW of solar power on a long-term basis.</p>
<p>The Commission has added that the solar power procured from these projects can be used for the fulfillment of Maharashtra State Electricity Distribution Company Limited’s (<a href="https://www.mahadiscom.in/" target="_blank" rel="noopener noreferrer">MSEDCL</a>) solar renewable purchase obligation (RPO).</p>
<p>The MERC observed that the rate of ₹2.89 (~$0.040)/kWh and ₹2.90 (~$0.041)/kWh as discovered in the competitive bidding, is in line with the existing market trends.</p>
<p>In June 2019, MSEDCL had <a href="https://mercomindia.com/maharashtra-tenders-1-gw-solar/" target="_blank" rel="noopener noreferrer">invited bids</a> for 1,000 MW of solar power from inter/intra-state solar power projects with a ceiling tariff of ₹2.80 ($0.04)/kWh. However, due to poor response, the tender was canceled, and a new tender of 500 MW was <a href="https://mercomindia.com/maharashtra-tender-solar-tariff-cap/" target="_blank" rel="noopener noreferrer">floated</a> again with the same tariff cap, which was also canceled later due to lack of response.</p>
<p>Subsequently, MSECL <a href="https://mercomindia.com/maharashtra-new-500-mw-solar-tender-tariff-cap/" target="_blank" rel="noopener noreferrer">issued</a> a new tender for the procurement of 500 MW of solar power on a long-term basis from intra-state solar power projects, raising the tariff cap to ₹2.90 (~$0.041)/kWh.</p>
<p>MSEDCL later clarified that an amendment dated October 22, 2019, was initially not incorporated in the tender document, but was subsequently incorporated after a pre-bid meeting on November 22, 2019. The last date for the submission of bids was initially November 30, 2019, but was later extended to December 12, 2019.</p>
<p>Maharashtra State Power Generation Company Limited and Juniper Green Energy Private Limited <a href="https://mercomindia.com/juniper-lowest-bid-maharashtra-solar/" target="_blank" rel="noopener noreferrer">submitted</a> bids for a cumulative capacity of 650 MW, and both the bidders were found to be technically qualified. The e-reverse auction was conducted, and the final tariffs discovered in the auction were ₹2.89 (~$0.040)/kWh and ₹2.90 (~$0.041)/kWh.</p>
<p>Through this procurement, MSEDCL is trying to fulfill its shortfall in solar RPO targets by purchasing solar renewable Energy Certificates (RECs) as its shortfall currently stands at 3,468 million units. In March 2019, MERC had noted the shortfall in RPO and had <a href="https://mercomindia.com/maharashtra-discom-allowed-time-solar-rpo/" target="_blank" rel="noopener noreferrer">ordered</a> MSEDCL to purchase solar power and renewable energy certificates by the end of March 2020 to fully meet its standalone and cumulative deficit of RPOs.</p>
<p>Recently, MSEDCL <a href="https://mercomindia.com/msedcl-tender-solar-tariff-cap/" target="_blank" rel="noopener noreferrer">issued</a> another tender for the long-term procurement of power from 500 MW of intra-state grid-connected solar power projects (Phase – V). The MSEDCL has set the ceiling tariff of ₹2.90 (~$0.041)/kWh for this tender. The last date for submission of responses to the RfS is January 28, 2020.</p>
<p>According to <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">Mercom India Solar Project Tracker</a>, Maharashtra has 1.6 GW of large-scale solar projects in operation, with 2 GW under development.</p>


MSEDCL Gets Tariff Approval from the Commission to Procure 500 MW of Solar Power

<p>In the auction for 500 MW of solar projects conducted by the Maharashtra State Electricity Distribution Company Limited (MSEDCL), Juniper Green Energy Pvt Ltd has emerged as the lowest bidder.</p>
<p>Juniper Green won 150 MW of solar projects in the auction at a tariff of ₹2.89 ($0.0407)/kWh. The remaining 350 MW has been bagged by Maharashtra State Power Generation Company Limited (MSPGCL) at a tariff of ₹2.90 ($0.0409)/kWh through bucket filling method. It had bid for the entire capacity of 500 MW but has been awarded 350 MW.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2019/12/MSEDCL-500-MW-ISTS-Phase-IV-Solar-Projects.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-16891" src="https://mercomindia.com/wp-content/uploads/2019/12/MSEDCL-500-MW-ISTS-Phase-IV-Solar-Projects.png" alt="MSEDCL - 500 MW ISTS Phase IV Solar Projects" width="544" height="188" srcset="https://cms.mercomindia.com/wp-content/uploads/2019/12/MSEDCL-500-MW-ISTS-Phase-IV-Solar-Projects.png 544w, https://cms.mercomindia.com/wp-content/uploads/2019/12/MSEDCL-500-MW-ISTS-Phase-IV-Solar-Projects-300x104.png 300w" sizes="(max-width: 544px) 100vw, 544px" /></a></p>
<p>In November 2019, the state had <a href="https://mercomindia.com/maharashtra-new-500-mw-solar-tender-tariff-cap/" target="_blank" rel="noopener noreferrer">issued</a> a Request for Selection (RfS) for the long-term procurement of power from 500 MW of intra-state solar power project (Phase-IV).</p>
<p>The MSEDCL had set a ceiling tariff of ₹2.90 (~$0.0409)kWh for the tender. The tender for these projects added that interested bidders must identify 100% of the land required for the project at the time of the submission of the bid. However, successful bidders would be allowed to change the location of the project within the state at the time of achievement of the financial closure. Developers had to achieve financial closure within nine months from the date of execution of the power purchase agreement (PPA) for projects set up in solar parks and within 12 months from the date of execution of the PPA, for projects set up outside the solar parks.</p>
<p>The state has been reluctant to approve tariffs above ₹3 ($0.040)/kWh.</p>
<p>Earlier, the commission <a href="https://mercomindia.com/maharashtra-discom-solar-tariff-projects-rejected/" target="_blank" rel="noopener noreferrer">dismissed</a> a petition filed by MSEDCL seeking the approval of tariff for 1,170 MW of solar projects to be set up under the Mukhyamantri Saur Krishi Vahini Yojana. The MSEDCL in its petition had requested for the adoption of tariff in the range of ₹3.16 (~$0.045)/kWh to ₹3.30 (~$0.046)/kWh. The tariffs were discovered in the competitive bidding process for a cumulative capacity of 1,170 MW of solar power projects to meet the DISCOM’s solar RPO.</p>
<p>In August 2019, MSEDCL <a href="https://mercomindia.com/maharashtra-tender-solar-tariff-cap/" target="_blank" rel="noopener noreferrer">issued</a> a tender to procure 500 MW of solar power with a tariff cap of ₹2.80 ($0.04)/kWh. However, according to a state official, that project has been canceled due to bidders not being clear about the transmission charges.</p>
<p>Before this tender, Maharashtra had <a href="https://mercomindia.com/maharashtra-tenders-1-gw-solar/" target="_blank" rel="noopener noreferrer">floated</a> a tender for the long-term procurement of 1 GW of solar power to meet its RPO in June 2019. The ceiling tariff for that tender was also set at ₹2.80 ($0.038)/kWh.</p>
<p>The state has been struggling to meet its solar and non-solar RPO and had earlier <a href="https://mercomindia.com/maharashtra-procure-wind-ceiling-tariff/" target="_blank" rel="noopener noreferrer">invited</a> potential bidders for the procurement of 500 MW of wind power on a long-term basis for eight years at a ceiling tariff of ₹2.52 ($ 0.036)/kWh.</p>
<p><a href="https://mercomindia.com/tariff-caps-slowing-solar-auction/" target="_blank" rel="noopener noreferrer">Tariff cap</a>s in reverse auctions have been a major problem for the sector as developers are very reluctant to participate in auctions where tariffs can only go in the downward direction.</p>
<p>According to <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">Mercom India Solar Project Tracker</a>, Maharashtra has 1.6 GW of large-scale solar projects in operation and 2 GW is currently under the development pipeline.</p>
<p>Image credit: Renovalia Energy</p>


juniper-green-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS