New Delhi: State-owned SJVN Ltd has concluded an e-reverse auction process for selecting renewable energy developers for its 1,500-MW power projects, an official statement said on Thursday. This is the first-ever such auction process conducted by SJVN, the company said.

"SJVN successfully concludes the E-Reverse Auction for 1500 MW power projects with energy storage system. As a Renewable Energy Implementing Agency (REIA), SJVN has successfully concluded its first ever e-reverse auction (e-RA) for selection of RE power developers for supply of 1,500 MW power projects with energy storage system in India," SJVN CMD Nand Lal Sharma said in the statement.

The auction to supply 1,500 MW power from interstate transmission system connected renewable projects with energy storage across India attracted nine companies. Seven of them got their quoted capacity at a tariff of around Rs 4.38 per unit. The successful bidders include ACME, JUNIPER & Tata Power, it said.

Ministry of New and Renewable Energy has designated SJVN as intermediary procurer/renewable energy implementing agency (REIA) for competitive bidding process for procurement of renewable power, Sharma said. SJVN is the fourth Renewable Energy Implementing Agency in addition to SECI, NTPC and NHPC.

SJVN will coordinate with other REIAs for floating of tenders and opening of bids to avoid concurrent bids for similar projects. The MNRE has prepared a roadmap for bidding out 50 GW of RE projects every year to attain the target of putting in place 500 GW of RE projects by 2030.