Torrent Power, ReNew Solar Power, TEQ Green Power XIII (O2 Power), NTPC Renewable Energy, ACME Cleantech Solutions, and Tata Power Renewable were declared winners in REMC Limited’s auction to supply 750 MW of round-the-clock (RTC) power from grid-connected renewable projects with or without storage across India for 25 years.

REMCL is a joint venture of Indian Railways and RITES.

Torrent Power quoted the lowest tariff of ₹4.25 (~$0.051)/kWh to win 100 MW. ReNew Solar, TEQ Green Power, NTPC Renewable Energy, and ACME Cleantech Solutions quoted ₹4.37 (~$0.052)/kWh and won 200 MW, 100 MW, 200 MW, and 100 MW respectively. Tata Power Renewable quoted ₹4.43 (~$0.053)/kWh and won 50 MW.

The tender was floated in October 2023.

The project’s annual availability is initially set at 75% for the first four years, increasing to 85% for the remaining contract years. A minimum project availability of 50% is required for the entire contract tenure on a time-block basis.

In the event of a power supply shortfall, developers are obligated to pay 200% of the applicable tariff for that contract year, calculated annually or on a time-block basis. The power supply, including energy from the storage system, must utilize renewable sources for energy storage.

The parties involved are expected to mutually agree on the tariff, which will be levelized for each year based on a discounting factor of 7.7%.

Integration of energy storage systems (ESS) may involve their inclusion in the project or separate linkage with a third party by the developer.

Renewable generation components and ESS installations can be sited anywhere, either co-located or at separate locations. Various components of RTC power, such as solar, wind, hydro, and others, can be interconnected with the interstate transmission system (ISTS) network at different ISTS substations.

Qualified projects include those currently under construction, projects not yet commissioned, and those already commissioned but lacking long-term power purchase agreements with any agency.

This eligibility extends to projects selling power on a short-term or merchant plant basis, provided they are not already accepted under other government programs and do not have commitments to existing buyers.

REMCL had mandated the use of solar modules from the Approved List of Models and Manufacturers and wind turbines listed in the Revised List of Models and Manufacturers for the projects.

In July last year, REMCL invited bids to procure 1 GW of RTC power from grid-connected renewable power projects with or without storage across India for 25 years.

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