The hybrid policy was launched in May, primarily to overcome the challenges posed by the intermittent nature of wind and solar power plants.
The maiden auction for wind-solar hybrid plants has discovered `2.67/unit as the lowest tariff. According to official sources, the renewable energy arm of SBG Cleantech—a joint venture between Japan’s SoftBank Group Corp, India’s Bharti Enterprises and Taiwan’ Foxconn Technology Group—has quoted the above-mentioned price to win the contract to build 450 MW of hybrid power plants.
Mahoba Solar—a unit of the Adani Group—would construct 390 MW of such plants and sell electricity at Rs 2.69/unit. The lowest solar tariffs found in India is `2.42/unit and for wind energy, the lowest price discovered is Rs 2.43/unit.
As reported by FE earlier, these were the only two firms to put forward their bids to the Solar Energy Corporation of India’s (SECI) tender for 1,200 MW of wind-solar hybrid units. The two companies had offered 1,050 MW capacity in total. Due to numerous teething issues cropping up in the first tender of its kind, the last date for bid submission had been postponed six times.
Industry sources had attributed the low ceiling tariff set for the auction as the cause for such muted response. Initially, the tariff ceiling was set at Rs 2.93/unit but had to be reduced to `2.60/unit as per the directions of the ministry of new and renewable energy.
The capacity offered under the tender was also cut down to 1,200 MW from the original proposition of 2,500 MW. The tariff-cap was later raised to Rs 2.70/unit. The hybrid policy was launched in May, primarily to overcome the challenges posed by the intermittent nature of wind and solar power plants. The model envisaged configuring wind turbines and solar systems at same grid connection points for optimal utilisation of power generating and transmission capacities.