REMC awards 1 GW RTC tender at uniform tariff of Rs 4.35 per kWh

REMC Limited (REMC), a joint venture of Indian Railways and RITES, has finalized its 1 GW round-the-clock (RTC) renewable energy tender. The power purchase agreements were concluded at a uniform tariff of Rs 4.35 per kWh, concluding a competitive bidding process that began in August 2025 and attracted nine participants.

ACME Solar Holdings was the most successful bidder, securing the entire 1,000 MW allocation. ReNew Power and Bhalki Solar Power each won 200 MW. Other awarded developers include Purvah Green Power (180 MW), Jindal Green (150 MW), and Ayana Renewables (140 MW). Several companies, including Solarcraft Power India, Jindal India Power, and Reliance Industries, participated but did not qualify based on the cutoff tariff.

This tender follows previous RTC power procurements by the Indian Railways ecosystem. In a 2023 REMCL tender, Ayana Renewables won 300 MW, while NTPC secured 500 MW and O2 Power won 60 MW at a levelized tariff of Rs 4.10. The following year, Indian Railways selected six developers for 750 MW of RTC power, with awards going to NTPC Renewable Energy and ReNew Solar Power (200 MW each), and Torrent Power, O2 Power, and ACME Cleantech (100 MW each). Tata Power received 50 MW in that round, where the lowest bid was Rs 4.25 per unit.

The capacity contracted in this latest REMCL tender exceeds the original 1,000 MW target. The tender’s terms permitted the final allocated capacity to go beyond 1 GW. The project capacity is defined as the rated AC capacity of the renewable components or storage systems and is subject to verification upon commissioning.

Under the agreement, developers have the flexibility to build projects with or without integrated energy storage. They are also responsible for constructing any dedicated transmission network up to the designated delivery point, bearing all associated costs, permits, and approvals.

The Scheduled Commissioning Date for the projects is 30 months from the effective date of the PPA. A grace period of up to six additional months is allowed for full capacity commissioning, subject to applicable liquidated damages.