The price was discovered late on Thursday at a reverse auction. “We expected the price to be very high, but thanks to the competitive spirit among our developers, we discovered a rate of ₹5.25 per unit for RE RTC (renewable energy round-the-clock),” Sarangi said while addressing the CII (Confederation of Indian Industry) International Energy Conference and Exhibition.
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The tariff discovered is important as the tender intends to compare with firm power sources such as thermal and nuclear. Renewable energy will have to be supplied on a round-the-clock basis, with at least 90% of the required power delivered during each time block in peak hours, 50% to 60% during solar hours, and at least 70% in the remaining period.
Sarangi had earlier this week told ET that this tender would serve as a milestone for firm and reliable green energy, especially for use by data centres. At the conference, he said the latest tariff shows the growing competitiveness of renewable energy and the ability of developers to integrate solar, wind and storage technologies to provide reliable power.