BC Jindal bags 150 MW round-the-clock project from SECI

The BC Jindal group on Wednesday announced that it has won a 150 MW round-the-clock ( RTC) project in a reverse auction conducted by Solar Energy Corporation of India ( SECI) at a tariff of Rs 5.07/kWh.

The auction was part of SECI’s 1200 MW RTC project.

Under the terms of the agreements, the company would be setting up Inter-State Transmission System (ISTS)-connected renewable energy power projects. Additionally, the firm would be responsible for land identification, project installation and ownership, obtaining approvals, and connecting with the ISTS network.The power generated will be supplied to DISCOMs under a Power Purchase Agreement (PPA) through SECI.

“This project win gives a big push to our goal of playing a key role in supporting India’s transition to clean energy and assisting the country achieve its renewable energy target of 500 GW by 2030,” said a company spokesperson.

Earlier, Jindal India Renewable Energy (JIRE) won two major 300 MW solar plus storage projects from state-owned SJVN and another from NHPC.

To meet the ambitious target of achieving 500GW by 2030, the Centre is eyeing adding 50GW of renewable energy capacity addition per annum. India has logged threefold growth in its renewable power capacity in the last decade, with the installed green energy capacity reaching 232GW, including large hydro power plants, currently compared to 75.52GW capacity in March 2014, official sources told PTI.

India has emerged as a global front runner in the renewable energy space as the tariff of the grid-connected solar power plants has gone down by 80 per cent to Rs 10.95 per unit (for 170MW at Neemuch). In March 2014, India's installed solar energy capacity was 2.82 GW, which has crossed 108GW now, recording multifold growth. Wind energy capacity has more than doubled to 51GW presently from 21GW in 2014.