Greenko, ReNew Power win Indian contract to supply 1.2GW of firm renewable electricity

first_img FacebookTwitterLinkedInEmailPrint分享ETEnergyWorld.com:Greenko and ReNew Power on Friday won the auction to supply 1200 MW of clean power after Solar Energy Corporation of India (SECI) concluded the world’s largest renewable-cum-energy storage power purchase tender through a reverse auction method. While Hyderabad-headquartered Greenko has been awarded 900 MW after quoting a peak power tariff rate of Rs 6.12 (~$0.086)/kWh, ReNew Power will supply the residual 300 MW. Its bid for peak tariff came at Rs 6.85 (~$0.096)/kWh.The renewable power from these projects will be firm, predictable, and will meet the peak requirements of several north India state distribution companies, which otherwise have to depend on spot markets without price, supply or network assurance, and are prepaid.“It’s a unique tender and first of its kind where the bidders will be required to deliver firm renewable energy. It’ll definitely help in improving the grid integration of renewables and improve the acceptability of green power by distribution companies,” said Sumant Sinha, CMD, ReNew Power.Power from pumped hydro and battery projects, coupled with renewables, will offer lowest ever peak tariff globally, believe industry players. This is also lower than the recent stressed thermal projects tender conducted by PTC where the tariff of Rs 4.24/kWh (Cents 5.89/kWh) was discovered, for only 3 years supply, whereas the tariff discovered under this tender are fixed for a 25-year period.In the U.S., a market with more advance storage technologies, similar bids have seen price discoveries of around $120-$140/MWh (megawatt hour). In India, in comparison, Friday’s bids translate to $85/MWh. Most analysts therefore feel this is a game-changer as India can now replace conventional sources with high-quality renewable power to meet the new energy demands of the country. It is now also possible to dispatch with higher reliability due to storage technologies at a cost that are either at par or sometimes even cheaper than fossil fuels or even gas.The tender sought a contracted capacity of 1200 MW, with assured supply of 600 MW for 6 hours daily during peak demand hours (that is, 5.30-9.30 AM and 5.30 PM-12.30 midnight), on a day-ahead on-demand basis. This will require storage capacity (pumped hydro and battery) of at least 3000 MWh, and appropriate renewable energy generation capacity.[Arijit Barman]More: Greenko, ReNew win world’s largest renewable-cum-storage based firm supply tender for 1.2 GW Greenko, ReNew Power win Indian contract to supply 1.2GW of firm renewable electricitylast_img

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