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In a significant move to boost India’s renewable energy sector, SJVN has announced a call for proposals under a new initiative to select Renewable Energy (RE) Power Developers. The aim is to supply 600 MW of firm and dispatchable power from Renewable Energy (RE) projects that are connected to the Indian national grid (ISTS) and equipped with Energy Storage Systems. This initiative is part of a Tariff-based Competitive Bidding process and features a “GREENSHOE OPTION” which allows for the potential expansion of capacity by an additional 600 MW, potentially reaching a total of 1200 MW.
Interested parties are invited to submit their bids on a Build-Own-Operate (BOO) basis. The successful bidders will enter into a Power Purchase Agreement (PPA) with SJVN for a duration of 25 years, adhering to the specified terms and conditions outlined in the Request for Selection (RfS) document and the PPA.
SJVN plans to act as an intermediary agency, purchasing power from the selected Renewable Power Developer (RPD) or Renewable Energy Power Generator (REPG) and then selling this power to various Buying Entities within India. These entities will be identified at a later stage, with SJVN reserving the right to make substitutions among them as deemed necessary.
The bidding process allows for a minimum power offering of 50 MW and caps the maximum offering at 600 MW. To participate, bidders are required to pay a document fee of INR 25,000 plus 18% GST and a bid processing fee of INR 15 Lakh plus 18% GST per project, payable via NEFT/RTGS transfer to SJVN. The deadline for online bid submissions is set for May 28, 2024, until 18:00 hrs. |
