CERC Adopts ₹3.64–₹3.65/kWh Tariffs for 600 MW Wind Projects

The Central Electricity Regulatory Commission (CERC) has adopted tariffs ranging from ₹3.64 to ₹3.65 per kWh for 600 MW of interstate transmission system (ISTS)-connected wind power projects awarded by SJVN Limited under its Wind-3 tender. The order, issued on October 14, 2026, covers four developers and is intended to facilitate long-term wind power procurement, subject to the capacity being tied up through Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).

The projects were selected through a tariff-based competitive bidding process followed by an e-reverse auction. SJVN issued the Request for Selection (RfS) on September 16, 2025, inviting bids for 600 MW of wind power capacity to be developed anywhere in India. The tender received 15 bids offering a combined capacity of 3,110 MW.

Developer-Wise Capacity and Tariffs

The e-reverse auction, conducted on February 27, 2026, resulted in tariffs of ₹3.64 per kWh for 530 MW and ₹3.65 per kWh for the remaining 70 MW. CERC adopted the tariffs for all four successful bidders.

KPI Green Energy Limited: 300 MW at ₹3.64/kWh
Urdhvaga Power Private Limited: 120 MW at ₹3.64/kWh
Adyant Enersol Private Limited: 110 MW at ₹3.64/kWh
Lambent Power Private Limited: 70 MW at ₹3.65/kWh
Total awarded capacity: 600 MW

SJVN issued Letters of Award to the selected developers on March 19, 2026. The tariff adoption follows the bidding process conducted under Section 63 of the Electricity Act, 2003, which allows regulators to adopt tariffs discovered through transparent competitive bidding in accordance with central government guidelines.

Wind Tariffs Below Comparable Tender Rates

In its order, CERC noted that the tariffs discovered under SJVN’s Wind-3 tender were lower than those reported in a contemporaneous 1,200 MW ISTS-connected wind tender conducted by the Solar Energy Corporation of India (SECI). The SECI tender, concluded in February 2026, recorded tariffs ranging from ₹3.67 to ₹3.69 per kWh.

The Commission also observed a downward trend in tariffs compared with SJVN’s earlier wind procurement rounds. Its Wind-1 tender had discovered tariffs of ₹3.98 and ₹3.99 per kWh, while Wind-2 recorded tariffs ranging from ₹3.74 to ₹3.81 per kWh.

CERC found that the Wind-3 bidding process had followed the applicable guidelines and that the discovered tariffs were consistent with prevailing price trends for similar wind power projects.

Uttar Pradesh Signals Interest in Procuring 600 MW

SJVN informed the Commission that Uttar Pradesh Power Corporation Limited (UPPCL) had conveyed in-principle consent on July 18, 2026, to procure the entire 600 MW awarded under the Wind-3 tender to meet the state’s electricity requirements.

According to SJVN’s submission, UPPCL indicated a proposed procurement tariff of ₹3.71 to ₹3.72 per kWh, inclusive of a trading margin of ₹0.07 per kWh, and requested that the full capacity be reserved for the state. The process of finalising the power sale arrangements was still underway at the time of the order.

CERC directed SJVN to place the executed PPAs and PSAs on record once the awarded capacity is tied up. The Commission also stated that any development preventing the capacity from being contracted must be reported in the case file.

Trading Margin Subject to Regulatory Conditions

CERC addressed SJVN’s request for a trading margin of ₹0.07 per kWh. The Commission stated that the margin could be agreed upon by the contracting parties for long-term transactions, subject to the applicable trading licence regulations.

However, if SJVN does not provide the required escrow arrangement or an irrevocable, unconditional and revolving letter of credit in favour of the generators, the trading margin will be capped at ₹0.02 per kWh under the relevant provisions.

The order provides regulatory approval for the discovered tariffs, while completion of the contractual arrangements remains necessary to advance procurement of the 600 MW wind power capacity.