Central Electricity Authority Approves 2,600 MW Pumped Storage Projects

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CEA Seeks Stakeholder Inputs on Updated Transmission Planning Guidelines

REC Invites Bids for Land Due Diligence of 150 MW Solar Project

Bengaluru Apartment Complex Adopts Solar, Saves ₹4 Million in Power Costs

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China Adds 57 GW of Solar Power Capacity in Q2 2024, Up 24% YoY

Enabling Policies Drive Rajasthan’s Solar Open Access Projects in Q1 2024

Goldman Sachs Alternatives Invests $440 Million in BrightNight


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					</table><p>JSW Neo Energy (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>), Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), <a href="https://www.venaenergy.com/" target="_blank" rel="noopener">Vena Energy</a>, <a href="https://hexaclimate.com/" target="_blank" rel="noopener">Hexa Climate Solutions</a> and <a href="https://www.serenticaglobal.com/" target="_blank" rel="noopener">Serentica Renewables</a> won significant capacities in Solar Corporation of India’s (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) auction to supply 630 MW of firm and dispatchable renewable energy (FDRE) from inter-state transmission (ISTS)-connected projects anywhere in India under FDRE Tranche IV.</p>
<p>JSW Energy quoted the lowest tariff of ₹4.98 (~$0.0595)/kWh to win 230 MW. Hero Solar and Vena Energy also quoted ₹4.98 (~$0.0595)/kWh to win 100 MW each. Hexa Climate and Serentica won 100 MW each by quoting ₹4.99 (~$0.0596)/kWh.</p>
<p><img loading="lazy" decoding="async" class=" wp-image-68530 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-300x120.jpg" alt="FDRE-1" width="610" height="244" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-300x120.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-768x307.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-650x260.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-624x250.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1-600x240.jpg 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/07/FDRE-1.jpg 940w" sizes="(max-width: 610px) 100vw, 610px" /></p>
<p>Serentica, however, had quoted 250 MW capacity but won only 100 MW.</p>
<p>Only 630 MW out of the total 1.26 GW was auctioned. SECI had floated the tender for the projects in September 2023.</p>
<p>The lowest tariff discovered in this auction is ~16% less than the tariff <u><a href="https://www.mercomindia.com/hfe-jsw-serentica-renew-win-secis-1-5-gw-fdre-auction" target="_blank" rel="noopener">discovered </a></u>in the most recent FDRE auction conducted by SECI and ~7% higher than the tariff <u><a href="https://www.mercomindia.com/axis-renew-juniper-serentica-tprel-win-ntpcs-fdre-ii-auction" target="_blank" rel="noopener">discovered </a></u>in the FDRE auction conducted by NHPC.</p>
<p>The FDRE model of projects aims to achieve 100% round-the-clock renewable energy at an individual project level. The projects will be developed on a build-own-operate basis</p>
<p>The projects must be designed to connect with the ISTS following the regulations set by the Central Electricity Regulatory Commission.</p>
<p>The connection to the grid and metering should adhere to the relevant grid code, grid connectivity standards, and regulations on communication systems for electricity transmission.</p>
<p>Both land and ISTS connectivity will be under the scope of the selected renewable energy developers. Energy Storage Systems must constitute part of the project.</p>
<p>Auctioned solar capacity in India <a href="https://www.mercomindia.com/solar-auctions-surge-q1-2024" target="_blank" rel="noopener">surged</a> to over 25 GW in the first quarter of 2024 from 820 MW in Q1 2023, primarily due to the new bidding guidelines mandating that auctions be conducted within 110 days of bid submission dates.</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 real-time tender activity.</p>


JSW, Hero, Vena, Hexa Climate and Serentica Win SECI’s 630 MW FDRE Auction


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					</table><p><a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a> has invited bids to select renewable energy developers to supply 600 MW firm and dispatchable power from inter-state transmission system (ISTS)-connected renewable energy projects with energy storage systems under tariff-based competitive bidding.</p>
<p>The tender also has an additional 600 MW greenshoe option.</p>
<p>The last day to submit the bids is May 28, 2024. Bids will be opened on June 3, 2024.</p>
<p>Bidders must furnish a bid processing fee of ₹1.5 million (~$17,984) for each project.</p>
<p>Bidders must submit an earnest money deposit (EMD) based on the total cumulative installed capacity they have committed. The formula for calculating the EMD is as follows:</p>
<p>EMD = [₹928,000 (~$11,126) x rated cumulative installed capacity of solar component (MW) + ₹1.26 million (~$15,107) x rated cumulative installed capacity of wind or other renewables component (MW) + ₹366,000 (~$4,388) x rated cumulative installed capacity of the energy storage system (MWh)].</p>
<p>Successful bidders must also provide a performance bank guarantee (PBG) as a security deposit. The PBG amount will be determined using this formula:</p>
<p>PBG= [₹2.32 million (~$27,818) x rated installed capacity of solar component (MW) + ₹3.16 million (~$37,891) x rated installed capacity of wind component (MW) + ₹915,000 (~$10,971) x energy storage system capacity (MWh)].</p>
<p>Bidders should offer a minimum cumulative contracted capacity of 50 MW and a maximum cumulative contracted capacity of 600 MW. The minimum capacity can be 30 MW for projects in north-eastern and special category states.</p>
<p>The contracted capacity must be quoted in multiples of 10 MW only.</p>
<p>The bidders’ net worth should be at least ₹12.26 million (~$147,008)/ MW of the quoted capacity as of the last date of the previous financial year or on the day at least seven days before the bid submission deadline.</p>
<p>Their minimum annual turnover must be ₹18.39 million (~$220,506) /MW of the quoted capacity during the last three financial years.</p>
<p>Bidders must have an internal resource generation capability in the form of profit before depreciation interest and taxes for a minimum amount of ₹3.67 million (~$44,005)/ MW of the quoted capacity, as on the last date of the previous financial year or as on the day at least seven days before the bid submission deadline.</p>
<p>They must present an in-principle sanction letter from their lending institutions or banks, committing a line of credit for a minimum of ₹7.66 million (~$91,847)/MW of the quoted capacity towards meeting the working capital requirement of the quoted project capacity.</p>
<p>The wind turbines used in the projects must be type-certified models listed in the Revised List of Models and Manufacturers issued by the Ministry of New and Renewable Energy (MNRE).</p>
<p>The solar photovoltaic modules used in the projects must be included in MNRE’s Approved Models and Manufacturers of Solar Photovoltaic Modules.</p>
<p>Recently, Juniper Green Energy, Datta Power Infra, Green Infra Wind Energy (Sembcorp), Energizent Power (O2 Power), Green Prairie Energy (EverGreen Power), and Avaada Energy were <a href="https://www.mercomindia.com/juniper-sembcorp-o2-win-sjvns-hybrid-auction/" target="_blank" rel="noopener">declared</a> winners in SJVN’s auction to develop 1.5 GW ISTS-connected wind-solar hybrid power projects in India.</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 real-time tender activity.</p>


SJVN Invites Bids for 600 MW Firm Power Supply from Renewables with Storage


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					</table><p>Hero Solar Energy (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">Hero Future Energies</a>), JSW Neo Energy (<a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Energy</a>), <a href="https://www.serenticaglobal.com/" target="_blank" rel="noopener">Serentica Renewables India</a>, and ReNew Solar Power (<a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a>) were declared winners in the Solar Energy Corporation of India’s (SECI) auction to supply 1.5 GW firm and dispatchable renewable energy (FDRE) from Inter-State Transmission System (ISTS)-connected projects under Tranche II.</p>
<p>Hero Solar quoted the lowest tariff of ₹5.59 (~$0.0675)/kWh to win 120 MW. JSW and Serentica quoted ₹5.60 (~$0.0677)/kWh to win 180 MW and 100 MW respectively.</p>
<p>ReNew won 80 MW out of the 200 MW quoted capacity at ₹5.60 (~$0.0677)/kWh.</p>
<p>Only 480 MW out of the total 1.5 GW was auctioned.</p>
<p>The FDRE model of projects aims to achieve 100% round-the-clock renewable energy at an individual project level.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-64269" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1.png" alt="SECI's ISTS Connected 1,500 MW Firm and Dispatchable Renewable Energy-II Projects - Auction Result (Load Following - Punjab and Madhya Pradesh)" width="1920" height="699" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1.png 1920w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-300x109.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-768x280.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-1536x559.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-650x237.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-624x227.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/03/SECIs-ISTS-Connected-1500-MW-Firm-and-Dispatchable-Renewable-Energy-II-Projects-Auction-Result-Load-Following-Punjab-and-Madhya-Pradesh--1-600x218.png 600w" sizes="(max-width: 1920px) 100vw, 1920px" />SECI <a href="https://www.mercomindia.com/seci-invites-bids-power-ists-connected-renewable-projects" target="_blank" rel="noopener">floated</a> the tender in July 2023 under FDRE-II to supply power to distribution companies in Punjab and Madhya Pradesh.</p>
<p>Both land and ISTS connectivity will be under the scope of the selected renewable energy developers. Energy Storage Systems must constitute part of the project.</p>
<p>The project must be designed to connect with the ISTS following the prevailing regulations set by the Central Electricity Regulatory Commission.</p>
<p>The connection to the grid and metering should adhere to the relevant grid code, grid connectivity standards, and regulations on communication systems for electricity transmission.</p>
<p>The minimum voltage level required for interconnection with the ISTS is 220 kV.</p>
<p>The power procured from these projects is provisioned to be sold to Punjab State Power Corporation and Madhya Pradesh Power Management Company.</p>
<p>SECI will act as the intermediary nodal agency for the procurement and sale of this power to the buying entities entirely on a back-to-back basis, based on due performance by the renewable energy developer as well as the buying entities.</p>
<p>Recently, NHPC <a href="https://www.mercomindia.com/brightnight-renew-acme-win-nhpcs-renewables-auction" target="_blank" rel="noopener">announced</a> the winners of its auction to supply 1.5 GW of firm and dispatchable renewable power (Peak Power Supply) from ISTS-connected projects coupled with energy storage systems anywhere in India. The lowest tariff discovered in the auction was ₹4.55 (~$0.0549)/kWh</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 real-time tender activity.</p>


Hero Future, JSW, Serentica and ReNew Win SECI’s 1.5 GW FDRE-II Auction


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					</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


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					</table><p>Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) has invited bids to select renewable energy developers to supply 800 MW firm and dispatchable power from Inter-State Transmission System (ISTS)-connected renewable energy projects, including energy storage systems, under tariff-based competitive bidding.</p>
<p>The projects will be developed under SECI’s Firm and Dispatchable Renewable Energy (FDRE) III program. The renewable energy developers will be responsible for securing land and connectivity.</p>
<p>The last date for the submission of bids is September 29, 2023. Bids will be opened on October 5.</p>
<p>The bid processing fee is ₹1.5 million (~$18,228).</p>
<p>Bidders must submit an Earnest Money Deposit (EMD) based on the total cumulative installed capacity they have committed. The formula for calculating the EMD is as follows:</p>
<p>EMD = [₹928,000 (~$11,145) x rated cumulative installed capacity of solar component (MW) + ₹1.26 million (~$15,181) x rated cumulative installed capacity of wind component (MW) + ₹1.46 million (~$17,583) x rated cumulative installed capacity of the energy storage system (MWh)].</p>
<p>Successful bidders must also provide a Performance Bank Guarantee (PBG) as a security deposit. The PBG amount will be determined using this formula:</p>
<p>PBG= [₹2.32 million (~$27,864) x rated installed capacity of solar component (MW) + ₹3.16 million (~$37,953) x rated installed capacity of wind component (MW) + ₹3.66 million (~$43,958) x energy storage system capacity (MWh)].</p>
<p>Bidders are required to submit the PBG amount before the Power Purchase Agreement (PPA) is signed.</p>
<p>The selected bidders must also pay success charges of ₹100,000 (~$1201)/MW of allotted capacity committed per the PPA to be signed to SECI towards administrative overheads, project monitoring activities, and coordination with state authorities.</p>
<p>The scheduled commencement of supply from the full project capacity must be within 24 months of signing the PPA.</p>
<p>Bidders who have already commissioned renewable energy or storage projects or are in the process of constructing such projects and have untied capacity can also participate in the tender. In such cases, they will be given the benefit of a longer PPA commensurate to the duration between the actual date of commencement of supply of power and the scheduled commencement of supply date.</p>
<p>Bidders and their parent companies, affiliates, or any group company must submit a single bid. The bid should offer a minimum cumulative contracted capacity of 50 MW and a maximum cumulative contracted capacity of 400 MW.</p>
<p>The contracted capacity must be quoted in multiples of 10 MW only.</p>
<p>The project must be designed to connect with the ISTS following the regulations of the Central Electricity Regulatory Commission.</p>
<p>The connection to the grid and metering should adhere to the relevant grid code, grid connectivity standards, and regulations on communication systems for electricity transmission.</p>
<p>For a contracted capacity of “A” MW per the PPA, the developer must install a solar capacity of a minimum “1.5 x A” MW in Haryana. The remaining capacity may be installed anywhere in India.</p>
<p>The solar capacity installed in Haryana may be connected to the ISTS grid at a minimum voltage level of 220 kV or to the intra-state transmission system grid of the State Transmission Utility (STU) at a minimum voltage level of 33 kV.</p>
<p>The developer will be responsible for arranging and bearing the cost of ISTS connectivity.</p>
<p>The power procured from these projects will be sold to Haryana Power Purchase Centre.</p>
<p>SECI will act as the intermediary nodal agency for procuring and selling this power to the buying entities on a back-to-back basis and based on due performance by the renewable energy developer and the buying entities.</p>
<p>Bidders must have a net worth equal to or greater than a specified amount, which is calculated based on the quoted installed capacity breakup. The net-worth requirement is determined using the formula:</p>
<p>Minimum net-worth requirement = [(₹11.58 million (~$139,081) x rated installed capacity of solar component) + (₹13.86 million (~$166,465) x rated installed capacity of wind power component) + (₹4.8 million (~$57,650) x rated installed capacity of energy storage system component)]</p>
<p>Bidders must demonstrate net worth either as of the last day of the previous financial year 2022-23) or at least seven days before the bid submission deadline.</p>
<p>Additionally, they should have a minimum annual turnover of ₹25.8 million (~$309,870)/MW of the quoted contracted capacity.</p>
<p>Recently, SECI <a href="https://www.mercomindia.com/seci-invites-bids-power-ists-connected-renewable-projects" target="_blank" rel="noopener">invited</a> bids for selecting renewable energy developers to supply 1.5 GW firm and dispatchable power from ISTS-connected renewable energy projects under tariff-based competitive bidding.</p>
<p>SECI had also <a href="https://www.mercomindia.com/seci-bids-500-mw-ists-connected-renewable-projects" target="_blank" rel="noopener">invited</a> bids to select renewable energy developers to supply 500 MW of power from ISTS-connected renewable energy projects with storage across India.</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 real-time tender activity.</p>


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