SJVN Successfully Concludes E-Reverse Auction for 1500 MW Power Projects with Energy Storage

Shimla, November 9: SJVN, as a Renewable Energy Implementing Agency (REIA), marked a significant milestone by successfully concluding its first-ever E-Reverse Auction (e-RA) for the selection of RE Power Developers. Sh. Nand Lal Sharma, Chairman & Managing Director of SJVN, announced the completion of the auction for the supply of 1500 MW Power Projects with Energy Storage System in India.

The auction, which attracted participation from nine companies, witnessed seven successful bidders securing their quoted capacity at a tariff of approximately Rs. 4.38/- per unit. Among the successful bidders were prominent entities such as ACME, JUNIPER, and Tata Power.

Nand Lal Sharma highlighted that SJVN, designated as an Intermediary Procurer/REIA by the Ministry of New and Renewable Energy, became the fourth such agency, alongside SECI, NTPC, and NHPC.

In alignment with the Prime Minister’s vision to achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030, the Government has initiated the process of inviting bids for 50 GW of renewable energy capacity annually from Financial Year 2023-24 to Financial Year 2027-28.

SJVN, as part of this initiative, will collaborate with other REIAs to float tenders and open bids, ensuring a coordinated approach and avoiding concurrent bids for similar projects. The Ministry of Power is actively enhancing and expanding the transmission system capacity to evacuate 500 GW of electricity from non-fossil fuel sources.

Nand Lal Sharma assured that SJVN would adhere to relevant Standard Bidding Guidelines issued by the Government and follow MNRE’s advice in tender-related matters. This successful auction signifies a significant step toward achieving the national target of installing 500 GW of renewable energy projects by 2030.