Vena Energy Wins 160 MW Blended Wind and 100 MW Solar Auctions in India

[Bangalore, India] Vena Energy, one of Asia-Pacific’s leading independent power producers (IPP), announced today that it has secured a 160 MW blended wind and solar project under the Solar Energy Corporation of India Limited (SECI) IX auction, and a 100 MW solar project through an auction conducted by the Gujarat Urja Vikas Nigam Limited (GUVNL).

Vena Energy won the auction for 160 MW of the SECI blended wind project with a tariff of ₹2.99 (approximately US$0.0401)/kWh. As part of the SECI’s 2.5 GW auction for interstate-connected (ISTS) projects, Vena Energy’s project will feature wind turbines with a combined capacity of 128 MW, and solar photovoltaic panels with a capacity of 32 MW. The construction of this co-located hybrid project is scheduled to begin in Q1 2021 and it will represent Vena Energy’s first hybrid energy project in its Operating, Construction and Shovel Ready (“OCSR”) portfolio across the Asia-Pacific region.

Vena Energy also won 100 MW solar project in a GUVNL auction, with a tariff of ₹2.78 (approximately $0.0373)/kWh, as part of Phase IX of GUNVL’s 700 MW Dholera solar park. The Gujarat state agency will provide the already acquired land, as well as the necessary transmission evacuation, and construction is scheduled to begin in Q1 2021.

“Vena Energy is committed to supporting the renewable energy transition across the Asia Pacific region. Our integrated business model, deep sector expertise and technological innovations have allowed us to achieve among the most competitive Levelised Cost of Energy (“LCOE”) in both solar and wind technologies across our markets. Our latest wins in the SECI and GUVNL auctions place us at the forefront of innovation and cost competitiveness, having delivered the lowest tariffs for both auctions. These also affirms our commitment to the renewable energy sector, increasing the our Operational, Construction and Shovel-Ready (OCSR) portfolio to 85(1) solar, wind and battery energy storage system projects totaling 2.8 GW in the Asia-Pacific region, capable of producing up to 4.5 TWh of clean energy annually. This is equivalent to supplying up to 2.9 million households, while reducing approximately 3.4 million tonnes of greenhouse gas emissions and saving up to 4.3 billion litres of water annually, compared to thermal power generation”, said Sunil Gupta, Regional Head for South East Asia and South Asia for Vena Energy.

Date

August 28, 2020