In a recent milestone event, NHPC Limited’s auction for Wind-Solar Hybrid technology unfolded with Juniper Green Energy Private Limited, Energizent Power Private Limited (O2 Power), and Avaada Energy Private Limited emerging as the triumphant bidders. The auction, designed for 1500 MW capacity, featured an electronic reverse auction for 960 MW.
During the fiercely competitive bidding process held on February 13, 2024, Juniper Green Energy Private Limited secured a significant victory, clinching an award for their bid capacity of 150 MW with the lowest final tariff at INR 3.48 per kWh. In close pursuit, Energizent Power Private Limited (O2 Power) secured an award for their bid capacity of 300 MW at a final tariff of INR 3.49 per kWh. Avaada Energy Private Limited, boasting the highest bid capacity of 750 MW, was honoured with 510 MW at the same final tariff of INR 3.49 per kWh. This bid outcome illuminates the increasing competitiveness and allure of renewable energy projects in India, particularly within the wind-solar hybrid sector. The success of these bids reflects a trend towards more favourable tariffs, indicating the feasibility and economic viability of ventures in the renewable energy space. Such developments are pivotal in India’s journey towards achieving its renewable energy targets and ushering in a greener and more sustainable energy landscape. The allocated capacities to these leading bidders mark a significant stride in the expansion of renewable energy infrastructure, aligning with India’s commitment to curbing carbon emissions and fostering a cleaner environment. This bid result signifies a positive advancement in the country’s renewable energy narrative, hinting at promising prospects for further sectoral advancements.
The tender, initiated in November of the previous year, has now culminated in a decisive moment for the renewable energy sector, showcasing the industry’s resilience and potential for growth. As these projects move forward, they are poised to contribute significantly to India’s energy transition, reinforcing the nation’s position as a key player in the global renewable energy landscape.
