SJVN concludes first ever e-reverse auction for 1500 MW power projects

State-owned SJVN Ltd on Thursday announced that it has completed an e-reverse auction process to select renewable energy developers for its 1,500 MW power projects.

This is the first-ever auction process conducted by SJVN, the company said in a statement.

“SJVN successfully completes the E-Reverse Auction for 1500 MW energy projects with energy storage system. As a Renewable Energy Implementing Agency (REIA), SJVN has successfully completed its first ever e-reverse auction (e-RA) for the selection of RE energy developers for supplying 1,500 MW power projects with energy storage system in India,” SJVN CMD Nand Lal Sharma said in the statement.

The auction for the supply of 1,500 MW of power from inter-state transmission systems associated with renewable energy storage projects across India attracted nine companies. Seven of them were given their quoted capacity at a rate of around Rs 4.38 per unit. The successful bidders include ACME, JUNIPER and Tata Power, the company said.

The Ministry of New and Renewable Energy has appointed SJVN as Renewable Energy Intermediary Purchaser/Executive Agency (REIA) for competitive bidding process for procurement of renewable energy, Sharma said.

SJVN is the fourth Renewable Energy Implementation Agency, besides SECI, NTPC and NHPC.

SJVN will coordinate with other REIAs for releasing tenders and opening bids to avoid simultaneous bidding for similar projects. The MNRE has prepared a roadmap for outsourcing 50 GW of RE projects annually to achieve the target of setting up 500 GW of RE projects by 2030.