SJVN Limited has filed a petition for the approval of tariffs to supply 1,500 MW of firm and dispatchable power from renewable energy projects connected to the Inter-State Transmission System (ISTS) with energy storage systems. This Build-Own-Operate (BOO) project includes an option to expand capacity by an additional 1,500 MW. The competitive bidding process ensured transparency and fairness.
Designated by the Ministry of New and Renewable Energy (MNRE) as an intermediary procurer, SJVN facilitates the procurement of renewable energy for distribution companies. After obtaining the necessary approvals, SJVN formed a Tender Committee to oversee the project. The Request for Selection (RfS) issued on June 20, 2023, aimed to select developers for the 1,500 MW capacity, later amended on August 4, 2023, to include the “Greenshoe Option” for an additional 1,500 MW.
The tender process received bids totalling 1,480 MW against the tendered 1,500 MW, with seven bidders found eligible for 1,184 MW. Confirmation was sought from these bidders regarding the Greenshoe Option, leading to Letters of Award (LoA) for a total of 2,368 MW, combining the initial and additional capacities.
At the time of filing the petition, SJVN had not secured agreements with distribution companies. However, during the hearing, SJVN reported entering Power Sale Agreements (PSAs) with several distribution companies, ensuring the sale of the entire 2,368 MW capacity. The company also received offers for the remaining additional power under the Greenshoe Option and sought clarification from the Ministry of New and Renewable Energy.
SJVN’s counsel presented PSAs with Maharashtra State Electricity Distribution Co. Ltd., Noida Power Co. Ltd., and Haryana Power Purchase Centre. Additionally, SJVN signed Power Purchase Agreements (PPAs) with successful developers for a total capacity of 2,368 MW. The entire bidding process adhered to competitive bidding guidelines, ensuring transparency and fairness.