Results for Railway Energy Management Company Limited’s (REMCL) auction to deliver round-the-clock power from 750 MW of grid-connected renewable projects, with or without storage, have been announced. By quoting Rs 4.25 per kWh, Torrent Power won 100 MW. Other companies have won following capacities: ReNew (200 MW), TEQ Green Power XIII (O2 Power) (100 MW), NTPC Renewable Energy Limited (200 MW), ACME Cleantech Solutions (100 MW) by quoting Rs 4.37 per kWh. Tata Power Renewable Energy Limited have won 50 MW by quoting Rs 4.43 per kWh.
The initial yearly availability for the project is initially established at 75 per cent during the first four years, with a subsequent rise to 85 per cent for the remaining contract period. Throughout the entire contract duration, a minimum project availability of 50 per cent is mandatory on a time-block basis. If there is a deficit in the power supply, developers must pay 200 per cent of the relevant tariff for the contract year, assessed either annually or on a time-block basis. The energy supply, encompassing energy derived from the storage system, should exclusively come from renewable sources for energy storage. The involved parties are anticipated to reach a mutual agreement on the tariff, and it will be standardised for each year using a discounting factor of 7.7 per cent. The incorporation of energy storage systems could entail either integrating them into the project or establishing a distinct connection with a third party by the developer.
Furthermore, REMCL has mandated the use of indigenously manufactured solar modules listed in the approved list of models and manufacturers. Additionally, under the tender, only wind-turbine models issued by the Ministry of New and Renewable Energy, listed in revised list of models and manufacturers will be allowed.
Recently, in January 2024, REMCL floated a tender to purchase round-the-clock power from 695 MW grid-connected clean projects, with or without storage.
