CENTRAL ELECTRICITY REGULATORY COMMISSION NEW DELHI Petition No. 235/AT/2025 Coram:

Shri Jishnu Barua, Chairperson Shri Ramesh Babu V., Member Shri Harish Dudani, Member Shri Ravinder Singh Dhillon, Member Date of Order: 06 February, 2026 In the matter of Petition under Section 63 of the Electricity Act, 2003 for the adoption of tariff for 2100 MW (including capacity of 900 MW under Greenshoe Option) Firm & Despatchable Power from ISTS connected RE Power Projects coupled with Energy Storage System selected through competitive bidding process under the Bidding Guidelines issued by the Ministry of Power, Govt. of India on 9.6.2023 and its amendments thereof.

And In the matter of NHPC Limited, NHPC Office Complex, Sector-33, Faridabad-121003, Haryana.

Versus

1 Essar Renewables Limited, Essar House,11 K.K. Marg, Mahalaxmi, Mumbai, Maharashtra.

2 Serentica Renewables India Private Limited, DLF Cyber Park, Block-B,9^th Floor, Udyog Vihar, Phase-III, Sector-20, Gurugram -122008, Haryana.

3 Juniper Green Energy Private Limited, Plot No 18, First floor, Institutional Area, Sector-32, Gurugram -122001, Haryana.

4 Hexa Climate Solutions Private Limited, 14^th Floor, Vatika Business Park, Sohna Road, Gurugram-122018, Haryana.

5 Avaada Energy Private Limited, C-11, Sector -65, Noida-201301, Uttar Pradesh. ….Respondents Parties present:

Shri Vyom Chaturvedi, Advocate, NHPC Shri Akshay Goel, Advocate, NHPC Shri Harsh Jadon, Advocate, NHPC Shri Jagpal Singh, NHPC

ORDER

The Petitioner, NHPC Limited, has filed the present Petition under Section 63 of the Electricity Act, 2003 (hereinafter referred to as “the Act”) seeking adoption of tariff discovered through a transparent Competitive Bidding Process for procurement of 2100 MW Firm and Dispatchable power, including 900 MW capacity under the “Greenshoe Option”, from ISTS-connected Renewable Energy Power Projects coupled with Energy Storage Systems (hereinafter referred to as “FDRE”). The said capacity was selected through the tariff based competitive bidding process in accordance with the “Guidelines for Tariff Based Competitive Bidding Process for Procurement of Firm and Dispatchable Power from Grid Connected Renewable Energy Power Projects with Energy Storage Systems” notified by the Ministry of Power, Government of India, vide Resolution No. 23/03/2023-R&R dated 9.6.2023, as amended from time to time (hereinafter referred to as “the Competitive Bidding Guidelines, 2023”). The Petitioner has made the following prayers:

“1) Admit the present Petition.

2) Condone the delay in approaching the Hon’ble Commission for Tariff Adoption.

3) Adopt the Tariff discovered in the Competitive Bidding Process for individual Power Projects as listed in Table 1 & Table 2 at paragraph 9 above on terms and conditions contained in the PPA to be signed with RE- Power Generators being Respondent Nos 1 to 5 and a Trading Margin of Rs 0.07/kWh in addition to above Tariff is to be recovered from buying Utilities /Distribution Licensee/DISCOM(s) in terms of the PSA to be signed between NHPC & Utilities/ Distribution Licensee.

4) Pass such other and further order/ orders as are deemed fit and proper in the facts and circumstances of the case.”

Submission of the Petitioner

2. The Petitioner, NHPC Limited, has been designated as an Intermediary Procurer/Renewable Energy Implementing Agency (hereinafter referred to as “REIA”) by the Ministry of New and Renewable Energy (hereinafter referred to as “MNRE”), Government of India, vide Office Memorandum No. 283/33/2020-GRID SOLAR, for enabling procurement of FDRE power by Distribution Licensees/DISCOMs from ISTS- connected Renewable Energy Projects coupled with Energy Storage Systems, through a tariff-based competitive bidding process conducted in accordance with the “Competitive Bidding Guidelines, 2023” issued by the Ministry of Power, Government of India.

3. In line with the REIA-wise bidding calendar issued by MNRE, the Petitioner issued a Request for Selection (hereinafter referred to as “RfS