SECI allocates 1.5 GW of solar at $0.031/kWh

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The Solar Energy Corp. of India (SECI) has published the results of its 1.5 GW ISTS-connected solar tender, launched under tranche XIII. The full capacity has been allocated to four bidders at an average price of INR 2.56 ($0.031)/kWh.

JSW Neo Energy won the biggest slice of 700 MW by quoting the lowest tariff of INR 2.56/kWh. Sunsure Solarpark Fourteen secured 300 MW and Tejorupa Renewables India 250 MW at INR 2.56/kWh each. NTPC Renewable Energy was allocated 250 MW at INR 2.57/kWh, against its bid capacity of 600 MW.

As per the tender document, SECI shall enter into a 25-year power purchase agreement (PPA) with the successful bidders. The projects are to be developed on a build-own-operate basis. These can be located anywhere in India and must connect to the interstate transmission grid.

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