SECI allocates 2 GW solar, storage at average price of INR 3.52/kWh

Reliance Power has secured the biggest slice of 930 MW. Other winners include NTPC Green Energy Ltd (500 MW), Hero Solar (270 MW), Sembcorp (150 MW) and Solarcraft (150 MW).

December 10, 2024 Uma Gupta

Image Credit: Sembcorp

Solar Energy Corp of India (SECI) has concluded its tender for 2 GW of solar with 1 GW/4 GWh of storage capacity at a final average price of INR 3.52 ($0.041)/kWh.

NTPC Green Energy Ltd secured 500 MW and Hero Solar 270 MW by quoting the lowest price of INR 3.52/kWh. Sembcorp and Solarcraft (an SPV of Blupine Energy) also won 150 MW each at this price. Reliance Power has been allocated the balance 930 MW (against its quoted capacity of 1 GW) at INR 3.53/kWh.

The winning developers will develop the projects on a build-own-operate basis. These can be located anywhere in India and must connect to the interstate transmission system.

SECI will enter into a power purchase agreement (PPA) with the successful bidders for a period of 25 years. Power procured by SECI from the projects has been provisioned to be sold to the different buying entities of India.

As per the tender, “ESS of at least 0.5 MW/2 MWh capacity for 1 MW solar project capacity must be installed as part of the project. ESS charged using a source other than solar power would not qualify as solar power. ESS may be owned by the developer or tied-up separately with a third party, for supply of power. The ESS technology can be changed by the developer at any time during the term of the PPA.”

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