Tata Power Renewable wins hybrid energy auction

Tata Power Renewable Energy (TPREL) was declared the winner in the auction by Tata Power Delhi Distribution (TPDDL) for 255 MW of wind-solar hybrid power projects. The company quoted a price of Rs 3 ($0.037)/kWh, according to Mercom. The second lowest tariff bid was Rs 3.01 ($0.037)/kWh by Avaada Energy. The third was Rs 3.80 ($0.047)/kWh by ReNew Solar Power. The winning tariff is 28% higher than the lowest bid of Rs 2.34 ($0.029)/kWh discovered in the wind-solar hybrid (Tranche-IV) auction held in August last year. The significant increase in the tariff discovered in recent auctions reflects the impact of the Basic Customs Duty and the Approved List of Models and Manufacturers (ALMM) regulation on projects. The tender was floated by the TPDDL in September to set up 255 MW of wind-solar hybrid power projects with a greenshoe option of an additional 255 MW across India on a build, own, and operate basis. In the tender, TPDDL has specified the capacity break-up as 85 MW solar and 170 MW wind power. TPDDL will enter into a 25-year power purchase agreement with the winning bidder. Mercom’s recently released India Solar Market Leaderboard 1H 2022 ranks Tata Power Renewables second for the number of solar installations in 1H 2022, accounting for 10% market share. See also: Swiss firm Partners Group to buy majority stake in SunsureIndore plans India's first retail municipal green bond for solar plant