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					</table><p><a href="https://www.mercomindia.com/lowest-wind-solar-hybrid-power-tariffs-in-2024-infographics" target="_blank" rel="noopener">The number of wind-solar hybrid projects that were tendered and auctioned by various agencies rose in 2024</a> due to increased demand from offtakers including power distribution companies and corporate consumers. In 2024, 13 auctions were held for wind-solar hybrid power projects. Tariffs for such hybrid power projects ranged between ₹3.15 (~$0.04)/kWh and ₹3.65 (~$0.043)/kWh. The lowest tariff of ₹3.15 (~$0.04)/kWh discovered in Solar Energy Corporation of India’s auction was 2.6% higher than the lowest tariff of ₹3.07 (~$0.0368)/kWh seen in 2023.</p>
<p><a href="https://www.mercomindia.com/major-events-indian-solar-sector-2024" target="_blank" rel="noopener">India added 16.4 GW of solar capacity in the first nine months of 2024, a 167% year-over-year increase from</a> 6.2 GW in 9M 2023, according to Mercom India Research’s Q3 2024 India Solar Market Update. Here is a compilation of the most important developments that impacted India’s solar sector.</p>
<p><a href="https://www.mercomindia.com/punjab-awards-264-mw-solar-projects" target="_blank" rel="noopener">The Punjab Energy Development Agency has issued a letter of award to VP Solar Generation to develop 66 solar power projects of 4 MW each, totaling 264 MW.</a> These solar projects are part of the feeder-level solarization initiative under Component-C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. Once operational, they are expected to generate approximately 400 million units of electricity annually, attract investments of ₹10.56 billion (~$123.85 million), and save the state an estimated ₹1.76 billion (~$123.84 million) annually in agricultural subsidies.</p>
<p><a href="https://www.mercomindia.com/rajasthan-empanelment-tender-511-mw-rooftop" target="_blank" rel="noopener">Rajasthan Renewable Energy Corporation has invited bids to empanel developers to install 511 MW of grid-connected rooftop solar systems on government buildings in the state.</a> Bids must be submitted by January 20, 2025. Bids will be opened on January 21. Bidders must furnish an earnest money deposit of ₹870,000 (~$10,187)/MW of the quoted capacity. Small-scale industries must furnish an EMD of ₹217,500 (~$2,546)/MW. Selected bidders must submit a performance bank guarantee of 3% of the order value. Small-scale industries can furnish a PGB of 0.5% of the order value.</p>
<p><a href="https://www.mercomindia.com/seci-tenders-energy-storage-system-in-kerala" target="_blank" rel="noopener">The Solar Energy Corporation of India has invited bids to set up 125 MW/500 MWh standalone battery energy storage system</a> in Kerala with viability gap funding under tariff-based global competitive bidding. The project will be developed under the built-own-operate model. Bids must be submitted by February 2, 2025. Bids will open on February 7. Bidders must submit a document fee of ₹50,000 (~$586.4) + GST to be submitted and a bid processing fee of ₹20,000 (~$234.5)/MW for the quoted capacity subject to a maximum amount of ₹2 million (~$23,454) + GST.</p>
<p><a href="https://www.mercomindia.com/south-africa-solar-battery-projects-auction" target="_blank" rel="noopener">South Africa has released the list of preferred bidders for solar and battery storage projects to be developed under its Renewable Energy Independent</a> Power Producer Procurement Program and Battery Energy Storage Independent Power Producer Procurement Program. These tenders were floated last December, and the bid window 7 (BW7) of the program aims to develop 3.2 GW of wind and 1.8 GW of solar projects. Of the bids received in August 2024, wind projects were undersubscribed with 1,692 MW, and solar was oversubscribed with 8,526 MW.</p>


Daily News Wrap-Up: Lowest Wind-Solar Hybrid Power Tariffs in 2024


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					</table><p>There has been an increase in wind-solar hybrid projects to meet the round-the-clock renewable energy demand in India.</p>
<p>The lowest tariff discovered in wind-solar hybrid auctions came in at ₹3.07 (~$0.0368)/kWh, 21% higher than the lowest tariff of ₹2.53 (~$0.0304)/kWh in 2022. The tariff increase was driven by the wind turbine shortage and the rise in wind project costs.</p>
<p>Here is the list of the lowest wind-solar hybrid tariffs discovered in auctions during 2023, according to Mercom India Research:</p>
<p><strong>#1 &#8211;</strong> The lowest tariff of ₹3.07 (~$0.0368)/kWh was <a href="https://www.mercomindia.com/amp-india-cesc-wind-solar-hybrid-tender" target="_blank" rel="noopener">quoted</a> by Amp Energy India in the auction to develop 150 MW of the interstate transmission system (ISTS)-connected wind-solar hybrid projects by Kolkata-based power utility company CESC.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61724" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1.jpg" alt="Solar - wind hybrid tariff 1" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-1-600x90.jpg 600w" sizes="auto, (max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#2 –</strong> The next lowest tariff of ₹3.27 (~$0.0392)/kWh was <a href="https://www.mercomindia.com/juniper-green-tata-renewable-win-225-mw-hybrid-auction" target="_blank" rel="noopener">quoted</a> by Juniper Green Energy for 75 MW in Tata Power’s auction to develop and procure power from 225 MW of grid-connected intrastate and interstate wind-solar hybrid power projects with a greenshoe option of 225 MW on a long-term basis. Tata Power Renewable Energy won 150 MW out of the quoted capacity of 225 MW at ₹3.28 (~$0.0393)/kWh under the bucket-filling method.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61727" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2.jpg" alt="Solar - wind hybrid tariff 2" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-2-600x90.jpg 600w" sizes="auto, (max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#3 &#8211; </strong>Solalite Power (O2 Power) and Sprng Energy <a href="https://www.mercomindia.com/ntpcs-1-5-gw-wind-solar-auction" target="_blank" rel="noopener">quoted</a> the lowest tariff of ₹3.35 (~$0.0402)/kWh to win 300 MW and 250 MW, respectively, to win NTPC’s auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects anywhere in India. ACME Cleantech Solutions and Juniper Green won 300 MW and 230 MW by quoting ₹3.36 (~$0.0404)/kWh. Avaada Energy won 24 MW out of the quoted capacity of 300 MW at ₹3.37 (~$0.0405)/kWh. Out of the total 1,500 MW bid capacity, only 1,104 MW was allotted. According to Mercom sources, the aggregate bids received were for only 1,380 MW. The auction capacity was reduced accordingly to 1,104 MW. It was calculated as aggregate bid capacity x 0.8.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61730" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3.jpg" alt="Solar - wind hybrid tariff 3" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-3-600x90.jpg 600w" sizes="auto, (max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#4 –</strong> Sprng Akshaya Urja (Sprng Energy) <a href="https://www.mercomindia.com/sprng-ntpc-ayana-o2-1-gw-hybrid-auction">quoted</a> ₹3.99 (~$0.0479)/kWh to win 100 MW in REMC’s auction to supply 1 GW of round-the-clock power for 25 years from renewable power projects with or without storage. NTPC Renewable Energy, Project Nine Renewable Power (Ayana Power) won 500 MW and 300 MW, respectively, by quoting ₹4.10 (~$0.0492)/kWh. TEQ Green Power XIII (O2 Power) won 60 MW, quoting ₹4.27 (~$0.0512) kWh.</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61732" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4.jpg" alt="Solar - wind hybrid tariff 4" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-4-600x90.jpg 600w" sizes="auto, (max-width: 1667px) 100vw, 1667px" /></strong></p>
<p><strong>#5 – </strong>Amp Energy India <a href="https://www.mercomindia.com/amp-energy-renew-hero-2-gw-hybrid-tender">quoted</a> ₹4.64 (~$0.0557)/kWh to win 100 MW in the Solar Energy Corporation of India auction for developing 1,200 MW of the ISTS-connected wind-solar hybrid power projects (Tranche-VI) with energy storage and assured peak power supply. The other winning bidders ReNew Vikram Shakti (ReNew) won the largest capacity of 600 MW by quoting ₹4.69 (~$0.0562)/kWh, ACME Cleantech Solutions followed with a capacity of 380 MW at ₹4.73 (~$0.0568)/ kWh, while Hero Future Energies won 120 MW at a tariff of ₹4.72 (~$0.0566)/ kWh.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-61734" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5.jpg" alt="Solar - wind hybrid tariff 5" width="1667" height="250" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5.jpg 1667w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-650x97.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/Solar-wind-hybrid-tariff-5-600x90.jpg 600w" sizes="auto, (max-width: 1667px) 100vw, 1667px" /></p>


Lowest Wind-Solar Hybrid Tariffs in India During 2023 [Infographics]

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