From pv magazine India
REMCL, a joint venture of Indian Railways and RITES Ltd., concluded its tender for 1 GW of round-the-clock (RTC) renewable power backed with or without energy storage at a tariff of INR 4.35/kWh.
Six developers placed the winning bid of INR 4.35/kWh. Winners include ReNew Solar Power (200 MW), Bhalki Solar Power (200 MW), Purvah Green Power (180 MW), Jindal Green (150 MW), Ayana Renewable (140 MW) and ACME Solar (130 MW).
The winning developers will set up renewable energy projects, with or without energy storage, to supply the contracted power to Indian Railways, the end user. The projects can be located anywhere in India and must connect to the interstate transmission system.
ACME Solar Holdings Ltd. (ACME Solar) has emerged as the winning bidder for 130 MW under REMCL’s tender for 1 GW of round-the-clock (RTC) power from renewable energy projects backed with or without energy storage. It won the capacity at INR 4.35/kWh.
ACME Solar Holdings Ltd. (ACME Solar) has emerged as the winning bidder for 130 MW under REMCL’s tender for 1 GW of round-the-clock (RTC) power from renewable energy projects backed with or without energy storage. It won the capacity at INR 4.35/kWh. The Letter of Award is expected to be issued within the timelines prescribed in the tender document.
The power generated will be procured by Indian Railways, which requires a consistent power profile throughout the day due to its unique load requirements. The Railways will enter into a direct power purchase agreement with the winning bidders without any intermediary.
As part of this winning bid, ACME Solar will supply renewable energy complemented with dispatchable sources and/or energy storage systems from ISTS-connected projects to ensure firm, round-the-clock clean power, in line with the obligations laid out in the tender document. The tender mandates a minimum annual availability of 75% for the first three contractual years from commissioning and 85% thereafter. This will require a combination of solar and battery installation with an optimal amount of complementary wind power as required.
ACME Solar will commission this project within 30 months of signing the power purchase agreement. It expects commissioning to be expedited by land availability and connectivity already secured within its portfolio.
ACME Solar Holdings is an integrated renewable energy player with a diversified portfolio spanning solar, wind, storage, firm dispatchable renewable energy and hybrid solutions. It has an operational contracted capacity of 2,934 MW and an under-construction contracted capacity of 4,456 MW, including 13.5 GWh of battery energy storage.
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