GERC approves Jubilant Infrastructure’s 9 MW hybrid power PPA

The Gujarat Electricity Regulatory Commission (GERC) has approved a power purchase agreement (PPA) between Jubilant Infrastructure, a subsidiary of Jubilant Ingrevia, and O2 Renewable Energy III, part of O2 Power, for 9 MW of wind-solar hybrid power at Rs 4.13 per kWh.

Jubilant Infrastructure, an SEZ developer with a distribution licence since 2012, faced delays in operations due to low energy demand and an underdeveloped network. In August 2023, it initiated a proposal for 9 MW of renewable power. O2 Renewable Energy III was the sole bidder, offering a 70% capacity utilisation factor (CUF). GERC justified the higher tariff, highlighting reduced transmission costs and price stability. The PPA includes deviations like increased CUF, excess energy handling, green attribute benefits, and revised provisions for delays and legal changes.

Separately, GERC set a levelised tariff of Rs 2.84 per kWh in September 2024 for wind projects under 10 MW, commissioned between June 2022 and March 2027, with a normative capital cost of Rs 70 million per MW and 3.84% annual escalation in operations and maintenance costs.