Petition for the Adoption for procurement of power from the 760 MW Grid Connected Renewable Energy Power Projects with Energy Storage Systems – EQ
Summary:
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**Background & Objective**
– NTPC filed a petition under **Section 63 of the Electricity Act, 2003** for adoption of tariffs discovered through a **competitive bidding process**.
– The tender was for procurement of **760 MW** of **Firm and Dispatchable Power (Assured Peak Power Supply)** from **ISTS-connected renewable energy projects with energy storage systems**.
– The bidding followed **MoP Guidelines dated June 9, 2023**.
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**Key Prayers by NTPC**
1. **Admit the petition**.
2. **Adopt discovered tariffs**:
– **₹4.69/kWh** – Hexa Climate Solutions (300 MW)
– **₹4.70/kWh** – ACME Solar Holdings (400 MW)
– **₹4.70/kWh** – Avaada Energy (60 MW)
3. **Approve trading margin** of **₹0.07/kWh**.
4. Pass any other appropriate orders.
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**Bidding Process Summary**
– **RfS issued**: May 31, 2024
– **Bid submission deadline**: September 24, 2024
– **Techno-commercial bids opened**: September 24, 2024
– **Financial bids opened**: November 5, 2024
– **e-Reverse Auction conducted**: November 6, 2024
– **Letters of Award issued**: December 26, 2024
**Initial Tendered Capacity**: 1200 MW
**Qualified Bidders**: 3 (total 950 MW)
**Awarded Capacity**: 760 MW (80% of qualified capacity due to under-subscription)
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**Tariff Reasonableness & Market Comparison**
– NTPC justified tariff reasonableness by comparing with **earlier tender** (Petition No. 226/AT/2025) where tariffs ranged **₹4.64–4.72/kWh**.
– Discovered tariffs (**₹4.69–4.70/kWh**) are **consistent with market trends**.
– **Under-subscription was addressed** as per RfS provisions:
– Only 3 bidders qualified (14 had downloaded documents).
– Awardable capacity scaled to **760 MW**.
– e-Reverse Auction ensured **competitive price discovery**.
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**CERC’s Analysis & Decision**
– The Commission verified that the **bidding process was transparent** and complied with **MoP Guidelines**.
– **Conformity Certificate** submitted by NTPC confirmed adherence to RfS.
– **Section 63 of Electricity Act** mandates tariff adoption if process is transparent and guidelines followed.
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### **Adopted Tariffs & Capacities**
| Bidder | Capacity | Tariff (₹/kWh) |
|——–|———-|—————-|
| Hexa Climate Solutions | 300 MW | 4.69 |
| ACME Solar Holdings | 400 MW | 4.70 |
| Avaada Energy | 60 MW | 4.70 |
– **Trading margin**:
– NTPC sought **₹0.07/kWh**.
– CERC held that **margin must be mutually agreed** in PSAs.
– If NTPC fails to provide **Letter of Credit/escrow**, margin capped at **₹0.02/kWh** as per Trading Licence Regulations.
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