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					</table><p>Sprng Akshaya Urja (<a href="https://sprngenergy.com/" target="_blank" rel="noopener">Sprng Energy</a>), <a href="https://ntpcrel.co.in/" target="_blank" rel="noopener">NTPC Renewable Energy</a>, Project Nine Renewable Power (<a href="https://www.ayanapower.com/" target="_blank" rel="noopener">Ayana Power</a>), and TEQ Green Power XIII (<a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 Power</a>) have won <a href="https://www.remcltd.com/" target="_blank" rel="noopener">REMC’s</a> auction to supply 1 GW of round-the-clock (RTC) power for 25 years from grid-connected renewable power projects with or without storage.</p>
<p>Sprng won 100 MW by quoting ₹3.99 (~$0.048)/kWh. NTPC and Ayana won 500 MW and 300 MW, respectively, quoting ₹4.10 (~$0.050)/kWh. O2 won 60 MW quoting ₹4.27 (~$0.052) kWh.<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png"><img decoding="async" class="aligncenter wp-image-52345 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png" alt="REMC Auction" width="100%" height="100%" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction.png 797w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-300x110.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-768x282.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-650x239.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-624x229.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/04/REMC-Auction-600x221.png 600w" sizes="(max-width: 797px) 100vw, 797px" /></a></p>
<p>These projects are to be developed across India.</p>
<p>The tender was <a href="https://www.mercomindia.com/indian-railways-tender-1-gw-round-the-clock-power" target="_blank" rel="noopener">floated</a> in July last year. REMC is a joint venture of Indian Railways and Rail India Technical and Economic Service.</p>
<p>The projects’ annual availability for the first four years is 75%, and 85% for the rest of the contract years. The minimum project availability must be 50% for the entire contract tenure.</p>
<p>The developer will have to pay 200% of the applicable tariff for any shortfall in power supplied, calculated on an annual or time-block basis. The tariff will be mutually agreed upon and levelized based on an 8.09% discounting factor.</p>
<p>The tender had specified stated that only commercially established and operational technologies should be used to minimize technology risks.</p>
<p>The energy storage system (ESS) power must be from renewable sources. The renewable generation components and the ESS installed may be located anywhere, and different components of RTC power can be connected to the interstate transmission system network at various substations.</p>
<p>It had also mandated the use of solar modules from the Approved List of Models and Manufacturers (ALMM) issued by the Ministry of New and Renewable Energy. Similarly, the wind turbines must also be procured from suppliers listed in the Revised List of Models and Manufacturers.</p>
<p>India witnessed a 50% quarter-over-quarter dip in solar auctions, with only 820 MW announced in the first quarter of 2023, according to <a href="https://mercomindia.com/research-2/" target="_blank" rel="noopener">Mercom India Research</a>. The capacity auctioned dropped 69% over the same period last year, mainly due to the uncertainty around the suspension of the ALMM policy.</p>
<p>The Ministry of New &amp; Renewable Energy recently announced that renewable project tenders of 50 GW capacity will be <a href="https://www.mercomindia.com/mnre-renewable-energy-bidding-trajectory" target="_blank" rel="noopener">issued</a> annually for the financial years 2024-28.</p>
<p>Subscribe to Mercom&#8217;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 the real-time tender activity.</p>


Sprng, NTPC, Ayana, O2 Win Railway’s 1 GW Solar-Wind Hybrid Auction


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					</table><p><a href="https://www.syngeneintl.com/" target="_blank" rel="noopener">Syngene International</a>, an integrated research, development, and manufacturing services company, has entered into an agreement with <a href="https://www.o2power.in/" target="_blank" rel="noopener">O2 </a>Power to procure power from the 100 MW wind project in Karnataka through open access mechanism.</p>
<p>Syngene has acquired an equity stake of 26% in O2 Renewable Energy II, a special purpose vehicle formed by O2 Power. The estimated cost of the acquisition is ₹30 million. The acquisition will be made in one or more tranches.</p>
<p>Incorporated in December 2021, O2 Power is backed by Global investors EQT Infrastructure and Temasek and develops utility-scale renewable energy projects. The company has contracted renewable upto 2 GW with various entities, including Solar Energy Corporation of India, NTPC, NHPC, Gujarat Urja Vikas Nigam, and Rewa Ultra Mega Solar. It also has a 250 MW solar project in Rajasthan, which is operational.</p>
<p>O2 Power is developing a 240 MW wind-solar hybrid project in Karnataka, of which 100 MW is wind and 140 MW is solar. Syngene has agreed to procure power from the 100 MW wind project.</p>
<p>Syngene is an integrated research, development, and manufacturing organization providing scientific services – from early discovery to commercial supply. It offers services in a wide range of industrial sectors, including pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical companies. In July this year, Syngene <u><a href="https://mercomindia.com/syngene-procure-ampyrs-50-mw-open-access-solar/" target="_blank" rel="noopener">signed</a></u> an agreement to acquire a 26% stake in Ampyr Renewable Energy Resources Eleven to procure power from the latter&#8217;s 50 MW open access solar project in Koppal district, Karnataka.</p>
<p>According to Syngene’s annual report, in FY 2021-22, 97% of the energy consumption at its Bangalore SEZ campus came from green energy sources.</p>
<p>A growing number of entities in the commercial and industrial (C&amp;I) segment have been opting to procure renewable energy in the open access mode, given the savings on power bills compared to conventional power tariffs.</p>
<p>The Green Energy Open Access) Rules 2022, <a href="https://mercomindia.com/no-load-limit-energy-open-access-captive-consumers/" target="_blank" rel="noopener">issued</a> by the Ministry of Power, is encouraging  C&amp;I consumers to transition to renewable energy. As per these rules, consumers will be eligible for green energy open access if they have a contracted demand or sanctioned load of 100 kW or more. For captive consumers, there will be no load limitation.</p>
<p>At the C&amp;I Clean Energy Meet 2022 <a href="https://mercomindia.com/open-access-solar-industries-uninterrupted-power/" target="_blank" rel="noopener">hosted</a> by Mercom India in Bengaluru, a panel discussion was organized on how open access renewables have been the most viable option for various sectors needing low-cost power. In the coming months, Mercom plans to <a href="https://mercomindia.com/event/" target="_blank" rel="noopener">host</a> more industry-focused C&amp;I events in Chennai, Coimbatore, Ahmedabad, and Noida.</p>


Syngene to Procure Power from O2 Power’s Wind Project in Karnataka

<p>O2 Power, Azure Power, Tata Power, and Amp Energy have together won 1,170 MW of projects in <a href="https://www.ntpc.co.in/" target="_blank" rel="noopener noreferrer">NTPC Limited’s</a> auction for 1.2 GW of the interstate transmission system (ISTS) connected solar projects.</p>
<p><a href="https://mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-20576" src="https://mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png" alt="NTPC 1.2 GW ISTS BOO-6 Solar Tender_Auction Results" width="533" height="215" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1.png 533w, https://cms.mercomindia.com/wp-content/uploads/2020/08/NTPC-1.2-GW-ISTS-BOO-6-Solar-Tender_Auction-Results-1-300x121.png 300w" sizes="(max-width: 533px) 100vw, 533px" /></a></p>
<p>According to Mercom’s sources, O2 Power, Azure Power, and Tata Power were awarded 400 MW, 300 MW, and 370 MW of projects, respectively, at a tariff of ₹2.43 (~$0.0325)/kWh. Amp Energy secured 100 MW of projects at ₹2.44 (~$0.0327)/kWh. ReNew Power also placed bids for 300 MW of projects but was not awarded any capacity.</p>
<p>Mercom earlier <a href="https://mercomindia.com/ntpc-solar-tender-response-oversubscribed/" target="_blank" rel="noopener noreferrer">reported</a> that the tender was oversubscribed, but due to some bids not making it through the technical qualifications, only 80% of the received bids were auctioned by NTPC.</p>
<p><strong>Background: </strong></p>
<p>In February 2020, NTPC <a href="https://mercomindia.com/ntpc-notice-inviting-tender-solar-projects/" target="_blank" rel="noopener noreferrer">floated</a> an invitation for bids for the selection of solar power developers to set up 1.2 GW of ISTS-connected solar projects. The tender was announced with a ceiling tariff set at ₹2.78 (~$0.037)/kWh.</p>
<p>In June, NTPC <a href="https://mercomindia.com/ntpc-extends-bidding-deadline-solar-projects/" target="_blank" rel="noopener noreferrer">extended</a> the bid submission deadline to July 15, 2020, from the earlier deadline of May 28, 2020. In April, the company had <a href="https://mercomindia.com/ntpc-extends-bid-submission-deadline/" target="_blank" rel="noopener noreferrer">extended</a> the deadline to May 28, 2020, from May 12, 2020, previously.</p>
<p>According to the tender documents issued earlier, the minimum capacity that a bidder could develop was 50 MW and in multiples of 10 MW from there, up to a maximum quotable capacity of 600 MW. Bidders were allowed to develop projects at multiple locations as long as each project was at least 50 MW.</p>
<p>However, bidders could only quote a single tariff for the entire capacity. The developer would be required to achieve financial closure for the project within 12 months from the effective date of PPA. The tender also stated that the capacity utilization factor (CUF) of the solar projects selected must not be less than 19%.</p>
<p>Earlier, Mercom <a href="https://mercomindia.com/ists-solar-projects-ntpc-canceled/" target="_blank" rel="noopener noreferrer">reported</a> that 1.4 GWs of solar projects that were awarded for NTPC’s 2 GW solar tender were canceled due to regulatory delays.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">India Solar Tracker</a>, NTPC has 875 MW of large-scale solar projects in operation, with about 2.3 GW of capacity currently under development.</p>


Amp Energy, Tata, Azure, and O2 Power Winners in NTPC’s 1.2 GW Solar Auction

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