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					</table><p><a href="https://www.worldsolar.in/" target="_blank" rel="noopener">Solarworld Energy Solutions</a>, <a href="https://orianapower.com/" target="_blank" rel="noopener">Oriana Power</a>, <a href="https://www.raysexperts.com/" target="_blank" rel="noopener">Rays Power Experts</a>, and JSW Neo Energy  (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>) have won Rajasthan Rajya Vidyut Utpadan Nigam’s (<a href="https://rrvunl.in/" target="_blank" rel="noopener">RVUNL</a>) auction to set up 500 MW/1,000 MWh standalone battery energy storage systems (BESS).</p>
<p>Solarworld won 125 MW/250 MWh at a tariff of ₹221,000 ($2,561.91)/MW/month, Oriana Power 50 MW/100 MWh at ₹222,000 ($2,574.51)/MW/month, Rays Power Experts 75 MW/150 MWh at ₹223,000 ($2,586.11)/MW/month, and JSW Neo Energy 250 MW/500 MWh at ₹224,000 ($2,597.70)/MW/month.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-75680 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL.png" alt="" width="752" height="294" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL.png 752w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL-300x117.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL-650x254.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL-624x244.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/auction-BESS-RVUNL-600x235.png 600w" sizes="(max-width: 752px) 100vw, 752px" /></a></p>
<p>The tender was <a href="https://www.mercomindia.com/rajasthan-1000-mwh-standalone-bess" target="_blank" rel="noopener">floated</a> in September 2024.</p>
<p>The BESS project also included a greenshoe option of 500 MW/1,000 MWh.</p>
<p>The projects will be eligible for viability gap funding (VGF) of ₹2.7 million (~$31,226)/MWh or 30% of the project’s capital cost for each developer. The VGF for the greenshoe capacity will be discussed with the developers in the next stage.</p>
<p>The VGF will be disbursed in five tranches as listed below:<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-75695 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl.png" alt="" width="643" height="336" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl.png 643w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl-300x157.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl-624x326.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/vgf-rvunl-600x314.png 600w" sizes="(max-width: 643px) 100vw, 643px" /></a>The total capacity will be distributed across RVUNL’s generation facilities, including the Giral Lignite Power Project in Barmer, Suratgarh Thermal Power Station in Suragarth, and Rajasthan Rajya Vidyut Prasaran Nigam’s substations at Sakatputa, Kota, and Heerapura, Jaipur.</p>
<p>Developers must cover all costs related to infrastructure development from the project to the interconnection point, including transmission line and maintenance expenses. Connection to the state transmission utility network will be at the eloped at the developers’ expense.</p>
<p>They must ensure the BESS is available for two charge-discharge cycles per day.</p>
<p>The BESS must allow RVUNL to charge and discharge on demand. Developers must guarantee a minimum of 95% system availability monthly.</p>
<p>The tender had specified a minimum bid size of 100 MWh (50 MW x 2 hours), with a maximum of 125 MW/250 MWh per location and 17,500 square meters of land allocated for a 125 MW/250 MWh capacity.</p>
<p>The power rating of a 1,000 MWh (500 MW x 2 hours) BESS will be 500 MW, the maximum value of the active output and input power at the delivery point.</p>
<p>The projects must be scheduled for commissioning within 18 months from the battery energy storage purchase agreement’s effective date.</p>
<p>RVUNL will manage land identification and allocation for the projects.</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>


JSW, Rays, Oriana Among Winners of RVUNL’s 500 MW/1,000 MWh BESS Auction


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					</table><p>In calendar year 2024, with 18.5 GW of projects going under the hammer in 27 auctions. The lowest tariff discovered in 2024 was ₹2.15 (~$0.025)/kWh, 15% lower than the lowest tariff of ₹2.51 (~$0.0296)/kWh in 2023.</p>
<p>Here is a list of the five lowest solar tariffs discovered in auctions in 2024:</p>
<p><strong>#1 </strong>Waaree Group <a href="https://www.mercomindia.com/waaree-wins-rumsls-170-mw-solar-project-in-neemuch-solar-park" target="_blank" rel="noopener">won</a> Rewa Ultra Mega Solar’s (RUMSL) auction to develop a 170 MW solar power project at the Neemuch Solar Park in Madhya Pradesh quoting a tariff of ₹2.15 (~$0.025)/kWh.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74661 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/1-3-1-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<p><strong>#2</strong> SAEL Industries and NTPC Renewable Energy <a href="https://www.mercomindia.com/sael-ntpc-blupine-win-seci-solar-auction" target="_blank" rel="noopener">won</a> 250 MW and 200 MW, respectively, by quoting ₹2.48 (~$0.0295)/kWh in Solar Energy Corporation of India’s (SECI) auction to develop 1.2 GW of ISTS-connected solar power projects (Tranche XVI) on a build, own, and operate basis. BluPine Energy secured 50 MW at ₹2.49 (~$0.0297)/kWh.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74662 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/2-2-1-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<p><strong>#3</strong> SAEL Industries <a href="https://www.mercomindia.com/sael-rays-ntpc-solar-auction" target="_blank" rel="noopener">won</a> 300 MW by quoting ₹2.50 (~$0.0297)/kWh in NTPC’s auction to set up 1,200 MW of ISTS-connected solar power projects. Rays Power Infra and Refex Green secured 100 MW each at ₹2.50 ($0.0297)/kWh, while ReNew Solar and Illuminate Hybren (Mahindra Susten) were awarded 300 MW and 176 MW, respectively, at ₹2.51 ($0.0299)/kWh.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74663 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/3-2-1-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<p><strong>#4</strong> Solarcraft Power India 8 (BluPine Energy) and GRT Jewellers <a href="https://www.mercomindia.com/blupine-grt-win-sjvn-solar-auction" target="_blank" rel="noopener">won</a> 300 MW and 150 MW, respectively, by quoting ₹2.52 (~$0.0304)/kWh in SJVN’s auction to develop 1,500 MW of ISTS-connected solar power projects across India. Furies Solren (Mahindra) and JSW New Energy secured 300 MW and 700 MW, respectively, at ₹2.53 (~$0.0305)/kWh, while NTPC Renewable Energy was allotted 50 MW after quoting ₹2.54 (~$0.0306)/kWh.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74664 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-1-2-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<p>ACME Solar Holdings, SAEL Industries, and Essar Renewables <a href="https://www.mercomindia.com/acme-sael-essar-sjvn-solar-auction" target="_blank" rel="noopener">won</a> 300 MW each by quoting ₹2.52 (~$0.0300)/kWh in SJVN’s auction to set up 1.2 GW of ISTS-connected solar power projects across India. Onward Solar Power secured 100 MW at ₹2.52 (~$0.0300)/kWh, while NTPC Renewable Energy (NTPC REL) was allotted 200 MW out of the quoted 400 MW at ₹2.53 (~$0.0301)/kWh under the bucket-filling method.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74665 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/4-2-1-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<p><strong>#5 </strong>SJVN Green Energy <a href="https://www.mercomindia.com/sjvn-sael-coal-india-guvnls-600-mw-solar-auction" target="_blank" rel="noopener">won</a> 100 MW by quoting ₹2.54 (~$0.0306)/kWh in Gujarat Urja Vikas Nigam’s (GUVNL) auction to supply power from 600 MW of grid-connected solar projects (Phase XXI) at the Gujarat Industries Power Company’s solar park in Khavda, Gujarat, with a greenshoe option of an additional 600 MW. SAEL Industries secured 200 MW at ₹2.55 (~$0.0307)/kWh, while Coal India was allotted 300 MW out of the quoted 600 MW at ₹2.55 (~$0.0307)/kWh.<strong> </strong></p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-74666 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/5-2-1-600x90.jpg 600w" sizes="(max-width: 2560px) 100vw, 2560px" /></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>


Five Lowest Solar Auction Bids in India During 2024 [Infographics]


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					</table><p>Jevargi Solar Power (<a href="https://www.rayspowerinfra.com/" target="_blank" rel="noopener">Rays Power Infra</a>), <a href="https://www.junipergreenenergy.com/" target="_blank" rel="noopener">Juniper Green Energy</a>, <a href="https://avaada.com/" target="_blank" rel="noopener">Avaada Energy,</a> and <a href="https://www.acme.in/" target="_blank" rel="noopener">ACME Solar Holdings</a> have won <a href="https://www.nhpcindia.com/" target="_blank" rel="noopener">NHPC’s</a> Tranche VI auction to supply 1,200 MW of firm and dispatchable renewable energy (FDRE) from ISTS-connected renewable power projects with an energy storage system and a greenshoe option of an additional 1,200 MW.</p>
<p>Jevargi Solar was awarded 150 MW at a tariff of ₹4.48 (~$0.0528)/kWh. Juniper and Avaada were awarded 200 MW and 600 MW at a tariff of ₹4.56 (~$0.0538)/kWh.</p>
<p>ACME won 250 MW out of the quoted capacity of 600 MW at a tariff of ₹4.56 (~$0.0538)/kWh under the bucket-filling method.</p>
<p><img loading="lazy" decoding="async" class="wp-image-73716 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1-300x108.png" alt="" width="689" height="248" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1-300x108.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1-650x235.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1-624x225.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1-600x217.png 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/NHPC-new-table-1.png 670w" sizes="(max-width: 689px) 100vw, 689px" /></p>
<p>The tender was floated in June this year.</p>
<p>NHPC will sign Power Purchase Agreements (PPA) with the selected bidders for 25 years, starting from the scheduled commissioning date of the projects. It will purchase the generated renewable power and sell it to state utilities or other beneficiaries.</p>
<p>Developers are responsible for identifying and securing the land for their projects. The tenders specified a minimum project size of 50 MW, with subsequent capacity increments in multiples of 10 MW. The cumulative capacity was capped at 600 MW. However, for projects located in the northeastern states and other special categories, the minimum contracted capacity that a bidder could offer was 30 MW.</p>
<p>If a project is transferred or sold to a third party after the initial one-year lock-in period following the commercial operation date, NHPC retains the right to enforce the PPA with the new owner, who will be fully obligated to comply with all terms and conditions of the agreement.</p>
<p>The developer is responsible for setting up renewable energy projects, including the dedicated transmission network up to the interconnection point, at its own expense, under the provisions outlined in the tender document. All approvals, permits, and clearances, including those from the state government and local authorities, fall under the developer’s responsibility.</p>
<p>Developers who have already commissioned renewable energy projects or are constructing such projects with untied capacity were eligible to participate in this bid.</p>
<p>In September, Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy <a href="https://www.mercomindia.com/nhpc-fdre-auction-ii" target="_blank" rel="noopener">won</a> NHPC’s 1,200 MW Tranche II FDRE auction.</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 the tender activity in real-time.</p>


Rays, Juniper, Avaada, ACME Win NHPC’s 1.2 GW Tranche VI FDRE Auction

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