SECI Awards 2 GW Solar Projects with Energy Storage at Record INR 3.52/kWh

The Solar Energy Corporation of India (SECI) has successfully concluded its tender for 2 GW of solar power capacity coupled with 1 GW/4 GWh of energy storage. The tender witnessed fierce competition, settling at an average tariff of INR 3.52 ($0.041)/kWh, marking a milestone in India’s renewable energy journey.

Winners of the Solar-Storage Auction

The tender attracted major players in the renewable energy sector:

• NTPC Green Energy Ltd and Hero Solar emerged as key winners, each securing 500 MW and 270 MW respectively, at the lowest bid price of INR 3.52/kWh.

• Sembcorp and Solarcraft (a subsidiary of Blupine Energy) won 150 MW each at the same tariff.

• Reliance Power secured 930 MW at INR 3.53/kWh, slightly above the lowest price, against its quoted capacity of 1 GW.

  
  

These developers will execute the projects on a build-own-operate basis, offering them location flexibility across India, provided they connect to the interstate transmission system.

A 25-Year Commitment: SECI’s PPA Terms

SECI will enter into a 25-year power purchase agreement (PPA) with the successful bidders. The power generated will be distributed to various buying entities across India, ensuring wide access to renewable energy.

Energy Storage Systems: A Mandatory Innovation

The tender mandates the inclusion of an Energy Storage System (ESS) with a capacity of 0.5 MW/2 MWh for every MW of solar power installed. This ESS must be charged exclusively using solar power to qualify as part of the solar project. Developers have the option to:

• Own the ESS outright.

• Partner with a third party for its provision.

• Modify ESS technology during the term of the PPA to enhance efficiency and integration.

  
  

Driving India’s Renewable Energy Vision

This tender exemplifies India’s push for affordable and reliable renewable energy while addressing grid stability through integrated storage solutions. It highlights the country’s commitment to achieving its ambitious clean energy targets and fostering innovation in energy storage technologies.