top of page

JSW Neo Energy, Tata Power, Avaada, and Juniper Green Win Major Maharashtra Hybrid Power Auction

Oct 16

2 min read

1

5

0

 

JSW Neo Energy, Tata Power, Avaada Energy, and Juniper Green win MSEDCL's auction to supply 1,650 MW wind-solar hybrid power at INR 3.60/kWh, boosting Maharashtra's renewable energy capacity. Discover more about the green energy transition.

 

JSW Neo Energy, Tata Power Renewable Energy, Avaada Energy, and Juniper Green Energy have emerged as winners in Maharashtra State Electricity Distribution Company's (MSEDCL) latest auction. The auction, aimed at securing 1,650 MW of wind-solar hybrid power for long-term supply from grid-connected intrastate projects, also included a greenshoe option of up to an additional 1,650 MW.


Details of the Auction

  • JSW Neo Energy secured the largest share with 600 MW (200 MW initially plus 400 MW via the greenshoe option) at a competitive tariff of INR 3.60 (~$0.0428)/kWh.

  • Tata Power also won 400 MW (200 MW initially plus 200 MW greenshoe) at the same rate.

  • Avaada Energy was awarded 500 MW (13 MW initially plus 487 MW greenshoe) at the same price.

  • Juniper Green Energy secured 150 MW (75 MW initially plus 75 MW greenshoe), also at the rate of INR 3.60 (~$0.0428)/kWh.


The tender, which was initially floated in July for a capacity of 1,150 MW, was later increased to 1,650 MW. The Maharashtra Electricity Regulatory Commission has approved the tariffs for this entire capacity.


Key Outcomes of the Auction

In the initial round of bidding, the following allocations were made:


  • JSW Neo: 200 MW at INR 3.60 (~$0.0428)/kWh.

  • Juniper Green: 75 MW at INR 3.65 (~$0.0434)/kWh.

  • Tata Power: 200 MW at INR 3.68 (~$0.0437)/kWh.

  • Avaada: 13 MW at INR 3.69 (~$0.0438)/kWh.


However, Tata Power later matched the lowest tariff (L1) rate of INR 3.60 (~$0.0428)/kWh for its 200 MW capacity. Following the auction, MSEDCL invited additional bids under the greenshoe option for projects willing to match the L1 rate, which led to further capacity awards for all four companies.


Greenshoe Option Bidders

  • JSW Neo Energy added 400 MW under the greenshoe option.

  • Tata Power matched with an additional 200 MW.

  • Avaada Energy increased its offer to 500 MW under the greenshoe option.

  • Juniper Green offered an additional 150 MW under the greenshoe option.


The auction marks a significant expansion in Maharashtra's hybrid renewable energy capacity, ensuring greater energy diversification and progress toward India’s green energy goals.