Executive Viability Abstract
This feasibility study evaluates the development of a 1.2 GW Hybrid Solar-Wind Mega Power Plant in Rajasthan/Gujarat, India. The project leverages India's ambitious 500GW non-fossil capacity target by 2030, utilizing the complementary nature of solar and wind resources to provide a high Plant Load Factor (PLF) and grid stability. With declining component costs and supportive MNRE policies, the project demonstrates strong financial viability and a strategic fit for the Indian energy transition.
Return on Investment
14.5%
Payback Span
8.2 years
Net Present Value
$215 Million
IRR Index
12.8%
## Market Analysis
India's electricity demand is projected to grow by 5-6% annually. The Ministry of New and Renewable Energy (MNRE) Wind-Solar Hybrid Policy provides a framework for optimizing land and transmission use. Current market trends show a shift from vanilla solar/wind to hybrid projects to manage intermittency. Competitive bidding through SECI ensures long-term revenue certainty.
## Capex Summary
The estimated CAPEX is approximately $950 million (INR 7,800 Crores). This includes:
- Solar PV Modules (40%)
- Wind Turbines & Towers (35%)
- Balance of System & Civil Works (12%)
- Grid Integration & Transmission (8%)
- Land Acquisition & Permissions (5%).
## Revenue Model
1. **Power Purchase Agreements (PPA):** 25-year fixed-tariff contracts with SECI/DISCOMs at an estimated rate of INR 2.80 - 3.10 per kWh.
2. **Merchant Power Sales:** Surplus energy sold via Green Day Ahead Market (G-DAM).
3. **Green Attributes:** Sale of Renewable Energy Certificates (RECs) and Carbon Credits.
## Regulatory & Policy Landscape
Benefits include Inter-State Transmission System (ISTS) charge waivers, Must-Run status, and Accelerated Depreciation benefits under the Income Tax Act.