7 firms secure 1.18 GW in ISTS-connected RE auction

24 Nov 2023 CW Team

ACME, Juniper, and Tata clinched their respective capacities at a tariff of Rs 4.38 (~$0.0526)/kWh, with ACME securing 250 MW, Juniper 200 MW, and Tata 200 MW.

The remaining winners?ReNew (184 MW), Solarcraft (150 MW), Hero (120 MW), and TEQ (80 MW)?quoted Rs 4.39 (~$0.0527)/kWh.

ReNew had bid for 300 MW but was ultimately awarded 184 MW through the bucket-filling method. The reverse auction established the opening L1 tariff at Rs 4.55 (~$0.0546)/kWh. SJVN granted contracts for only 1.18 GW out of the initially tendered 1.5 GW capacity.

The tender, launched by SJVN in June, mandated that projects be developed on a build, own, and operate basis. Developers with existing or under-construction untied capacity in renewable energy or storage projects were eligible to bid. The selected developers are also responsible for securing ISTS connectivity at their own expense, as per applicable regulations.

Furthermore, SJVN specified that wind turbine models listed in the Revised List of Models and Manufacturers and solar modules registered in the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy must be utilised in the projects.

Projects are required to maintain an annual capacity utilisation factor (CUF) of at least 40%. Developers must ensure generation that aligns with an annual CUF within +10% and -15% of the declared value throughout the 25-year power purchase agreement duration.

According to Mercom India Research, solar auctions witnessed an 86% year-over-year (YoY) increase in the third quarter of 2023, with a 7% YoY rise in tender activity. Stay updated on real-time tender and auction activity by subscribing to Mercom's India Solar Tender Tracker.

ACME Cleantech Solutions, Juniper Green Energy, Tata Power Renewable Energy, Solarcraft Power India (Blupine), TEQ Green Power XVI (O2 Power), Hero Solar Energy, and ReNew Solar Power emerged victorious in SJVN's auction, securing the contract to supply 1,500 MW of power from interstate transmission system (ISTS)-connected renewable energy projects with energy storage throughout India. ACME, Juniper, and Tata clinched their respective capacities at a tariff of Rs 4.38 (~$0.0526)/kWh, with ACME securing 250 MW, Juniper 200 MW, and Tata 200 MW. The remaining winners?ReNew (184 MW), Solarcraft (150 MW), Hero (120 MW), and TEQ (80 MW)?quoted Rs 4.39 (~$0.0527)/kWh. ReNew had bid for 300 MW but was ultimately awarded 184 MW through the bucket-filling method. The reverse auction established the opening L1 tariff at Rs 4.55 (~$0.0546)/kWh. SJVN granted contracts for only 1.18 GW out of the initially tendered 1.5 GW capacity. The tender, launched by SJVN in June, mandated that projects be developed on a build, own, and operate basis. Developers with existing or under-construction untied capacity in renewable energy or storage projects were eligible to bid. The selected developers are also responsible for securing ISTS connectivity at their own expense, as per applicable regulations. Furthermore, SJVN specified that wind turbine models listed in the Revised List of Models and Manufacturers and solar modules registered in the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy must be utilised in the projects. Projects are required to maintain an annual capacity utilisation factor (CUF) of at least 40%. Developers must ensure generation that aligns with an annual CUF within +10% and -15% of the declared value throughout the 25-year power purchase agreement duration. According to Mercom India Research, solar auctions witnessed an 86% year-over-year (YoY) increase in the third quarter of 2023, with a 7% YoY rise in tender activity. Stay updated on real-time tender and auction activity by subscribing to Mercom's India Solar Tender Tracker.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..