Renewable Power Tender In India Oversubscribed
A tender issued by Solar Energy Corporation of India for the supply of uninterrupted renewable energy was oversubscribed handsomely.
SECI had floated a tender for 400 megawatts of steady renewable power. The tender was floated for the benefit of two small jurisdictions in the country with no power generation assets of their own. The tender required bidders to ensure round-the-clock supply of renewable power.
Three companies have submitted bids for setting up this capacity. Greenko Energy Holdings and ReNew Power each bid for the entire 400 megawatts of capacity while Ayana Renewables placed a bid for 50 megawatts.
Developers are free to set up solar, wind, or hybrid projects equipped with storage capacity to ensure a steady supply of renewable power. This is the first tender of its kind and is aimed at increasing the share of renewable energy in India’s power mix. India has floated numerous solar power tenders over the last few years. However, this disadvantage of solar power is that it cannot supply power during peak demand hours of evening and night.
These tenders have been drafted to address this specific issue.
Greenko Energy Holdings and ReNew Power recently won bids to set up projects under a different tender issued by SECI. Developers were required to ensure guaranteed power supply during peak hours using renewable energy projects. Greenko Energy secured rights to develop 900 megawatts of capacity, while ReNew Power secured order for 300 megawatts of capacity.
More such tenders are expected to be issued by SECI over the next few months and years. These tenders should result in sharp increase in the share of renewable energy in India’s electricity mix.
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