Petition for Adoption of Setting up of 600 MW ISTS-connected Wind Power Projects (Wind-2) in India – EQ

Summary:

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**1. Case Overview**
– **Petitioner:** SJVN Limited (Designated as Intermediary Procurer/Renewable Energy Implementing Agency by MNRE)
– **Purpose:** Petition under Section 63 of the Electricity Act, 2003 for adoption of tariff discovered through competitive bidding for 600 MW ISTS-connected Wind Power Projects (Wind-2).
– **Respondents:** M/s NLC India Limited (Successful Bidder) and M/s Adyant Enersol Private Limited (Successful Bidder).

**2. Bidding Process Summary**
– **RfS Issued:** 19.04.2024 for 600 MW ISTS-connected Wind Power Projects anywhere in India.
– **Guidelines:** Followed “Guidelines for Tariff Based Competitive Bidding Process for Procurement of Power from Grid Connected Wind Power Projects” (Gazette of India, 26.07.2023).
– **Tender Committee:** 3-member committee constituted (Contracts, Finance & Accounts, Technical).
– **Bid Submission Deadline:** Extended multiple times (from 12.06.2024 to 06.12.2024) due to less than 3 bidders, to ensure competitive tariff discovery.
– **Technical Bids Opened:** 10.12.2024.
– **Financial Bids Opened:** 17.01.2025.
– **e-Reverse Auction:** Conducted on 17.01.2025.
– **Letters of Award (LoA) Issued:** 28.02.2025.

**3. Bid Response & Award Details**

| **Particulars** | **Details** |
|—|—|
| **Tendered Capacity** | 600 MW |
| **Total Quoted Capacity** | 390 MW (from 3 bidders) |
| **Eligible Capacity for Award** | 312 MW (80% of quoted capacity as per RfS terms) |
| **Successful Bidders** | 1. M/s NLC India Limited – 200 MW @ ₹3.74/kWh<br>2. M/s Adyant Enersol Private Limited – 112 MW @ ₹3.81/kWh |
| **Total Awarded Capacity** | 312 MW |

**4. Key Conditions of Award (from LoA)**
– **PPA Term:** 25 years (fixed tariff for entire duration).
– **Project Location (NLC India):** Dayapar, Bhuj District, Gujarat (ISTS connection at Bhuj-2/Lakadiya).
– **Declared Annual CUF:** 30%.
– **Success Charges:** ₹1.00 Lakh/MW + 18% GST (payable within 30 days of LoA).
– **Performance Bank Guarantee (PBG):** ₹31.60 Lakhs/MW (to be submitted before signing PPA).
– **Scheduled Commissioning:** Within 24 months from the Effective Date of PPA.
– **Financial Closure:** To be achieved six months prior to Scheduled Commissioning Date.

**5. CERC’s Analysis & Decision**

– **Section 63 Compliance:** The Commission was satisfied that the tariff was discovered through a **transparent competitive bidding process** in accordance with Government of India guidelines.
– **Conformity Certificate:** SJVN submitted an affidavit (13.06.2025) certifying that the bid evaluation and adopted prices are aligned with market trends and guidelines.
– **Tariff Adoption:** The Commission **adopted the tariffs** of ₹3.74/kWh and ₹3.81/kWh for the respective projects, subject to SJVN finalizing Power Sale Agreements (PSAs) and Power Purchase Agreements (PPAs).
– **Pending Approvals:** SJVN is in the process of executing PSAs with Bihar DISCOMs (approval pending before Bihar Electricity Regulatory Commission). The Commission allowed tariff adoption without waiting for final PSA execution.

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