India Awards 500 MW Solar Capacity at an Average Rate of INR 2.48/kWh

The Solar Energy Corporation of India (SECI) has announced the results of its latest auction for 1.2 GW of interstate transmission system (ISTS)-connected solar power projects. In a highly competitive bidding process, SAEL Industries, NTPC Renewable Energy, and BluPine Energy have emerged as the winners.

SAEL Industries secured a 250 MW capacity, while NTPC Renewable Energy won 200 MW, both at a competitive tariff of INR 2.48 per kWh. BluPine Energy got a 50 MW share with a slightly higher tariff of INR 2.49 per kWh.

Following the auction results, winners will enter into 25-year power purchase agreements (PPAs) with SECI, committing to supply solar power at the agreed tariffs. These projects will encompass the construction of solar power stations, the development of necessary transmission infrastructure, land acquisition, installation, and securing regulatory approvals. The minimum required interconnection voltage for the ISTS is set at 220 kV.

Important thing to note here is, only solar modules from the Ministry of New and Renewable Energy's Approved List for Models and Manufacturers will be utilized in these projects. Following this auction, SECI has announced a new bid for 2,000 MW of ISTS-connected solar power projects, along with 1,000 MW/4,000 MWh of energy storage systems under Tranche XVII.

About SECI

SECI, or the Solar Energy Corporation of India, is a government-owned enterprise under the Ministry of New and Renewable Energy (MNRE). Established in 2011, SECI is responsible for implementing various solar energy projects across India. It plays a key role in promoting and developing solar power projects, conducting auctions for solar and other renewable energy capacities, and facilitating the growth of the renewable energy sector in the country through various policy initiatives and incentives.