May 15, 2023

CERC Adopts Tariff for 1200 MW Wind

The Central Electricity Regulatory Commission (CERC) has adopted the tariff for 1200 MW Wind-Solar Hybrid Power Projects (Tranche-IV) connected to the Inter-State Transmission System (ISTS) in a recent order. The petitioner, Solar Energy Corporation of India Limited (SECI), filed the petition under Section 63 of the Electricity Act, 2003, seeking adoption of the discovered tariff through a competitive bidding process.

SECI conducted the bidding process following the "Guidelines for Tariff Based Competitive Bidding Process for procurement of power from Grid Connected Wind-Solar Hybrid Projects" issued by the Ministry of New and Renewable Energy, Government of India (MNRE). In response to the Request for Selection (RfS), SECI received nineteen bids offering an aggregate capacity of 6280 MW. The financial bids of technically qualified bidders were opened, and eighteen bidders for a capacity aggregating 5980 MW were shortlisted for e-reverse auction.

The e-reverse auction was conducted on August 23, 2021, which resulted in the final tariff. The successful bidders include NTPC Limited (450 MW), NLC India Limited (150 MW), Project Ten Renewable Power Private Limited (450 MW), and Azure Power India Pvt. Ltd. (150 MW). SECI has signed Power Purchase Agreements (PPAs) with these companies and Power Sale Agreements (PSAs) with distribution licensees Haryana Power Purchase Centre (HPPC) and Chhattisgarh State Power Distribution Company Limited (CSPDCL).

The adopted tariffs for the successful bidders are as follows:

Azure Power India Pvt. Ltd. – Rs. 2.35/kWhNTPC Limited – Rs. 2.34/kWhProject Ten Renewable Power Private Limited – Rs. 2.34/kWhNLC India Limited – Rs. 2.34/kWh

The Commission's order also emphasizes the importance of compliance with all procedural and legal requirements by intermediary agencies, including SECI. The Hybrid Power Projects are scheduled to be commissioned within 18 months from the effective date of the PPAs.