Indian company SECI announces tender winners for 1.2 GW of solar and energy storage installation

Solar Energy Corporation of India (SECI) has announced the winners of the tender for procurement of 1.2 GW of solar power with 600 MW/1.2 GWh of energy storage capacity in India under the ISTS Tranche-XV programme at an average final price of INR 3.42/kWh (USD 4.1/kWh). SECI floated the tender on a build-own-operate (BOO) basis and will now enter into a power purchase agreement (PPA) with the successful bidders for purchase of solar power for a period of 25 years.

JSW Neo Energy received the largest capacity of 500 MW, at a rate of 4.1 c/kWh. Acme Solar Holdings secured 350 MW and Hero Solar Energy 250 MW, both also at a rate of 4.1 c/kWh. In addition, Pace Digitek Infra won 100 MW at a rate of 4.08 c/kWh.

By the end of 2023, solar and wind accounted for almost 24% of India’s installed capacity, at 73 GW and 45 GW respectively, while hydropower capacity reached almost 52 GW. India plans to increase its non-fossil fuel power capacity to 500 GW.