Solar Energy Corp. of India has concluded its 1 GW solar PV auction by awarding the full capacity at prices of INR 2.52-2.53 ($0.030)/kWh. Avaada and ReNew secured 300 MW each at INR 2.52/kWh. Sprng Energy won 250 MW at INR 2.52/kWh. Solarcraft Power (BluPine) secured 150 MW at INR 2.53/kWh.
The winners will set up solar projects on a build-own-operate basis. The projects can be located anywhere in India and should connect to the interstate transmission system (ISTS).
SECI shall enter into a 25-year power purchase agreement (PPA) with the developers selected through this tender. Power procured by SECI from the projects has been provisioned to be sold to the different buying entities in India.
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