SECI concludes 1.2 GW/1.2 GWh solar, storage tender with average price of $0.041/kWh

Acme Solar Holdings, Hero Solar Energy, JSW Neo Energy and Pace Digitek Infra have emerged winners in Solar Energy Corp. of India’s tender for setting up 1.2 GW solar with 600 MW/1.2 GWh energy storage capacity.

July 16, 2024 Uma Gupta

Image: Greg M. Cooper, Borrego Solar

Solar Energy Corp. of India (SECI) has concluded its tender for setting up 1.2 GW solar with 600 MW/1.2 GWh energy storage capacity at final average price of INR 3.42/kWh ($0.041/kWh).

JSW Neo Energy secured the biggest slice of 500 MW. Acme Solar Holdings secured 350 MW and Hero Solar Energy 250 MW. Pace Digitek Infra won 100 MW.

SECI had launched the tender to set up 1.2 GW of solar PV projects with 600 MW/1,200 MWh energy storage systems (ESS) on a build-own-operate basis in India, in March this year. The projects can be located anywhere in India and must connect to the interstate transmission grid.

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

The solar power developer will install ESS capacity of at least 0.5 MW/1 MWh for each 1 MW project capacity contracted under the PPA. The ESS component may either be owned by the solar power developer or tied-up separately with a third-party. The ESS component may be co-located with the PV power generating components or located separately, under a single project.

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