SECI awards 420 MW renewables-plus-storage at average price of $0.059 /kWh

Solar Energy Corp. of India (SECI) has awarded 420 MW of renewable-plus-storage capacity in its 1.2 GW round-the-clock (RTC) power tender. The winning developers will set up renewable energy projects backed with energy storage systems to supply RTC power.

May 27, 2025 Uma Gupta

Tata Power Solar Systems

SECI has concluded its tender for the supply of 1.2 GW of round-the-clock (RTC) power sourced entirely from renewable energy, with an average tariff of INR 5.06 ($0.059)/kWh. Hero Future Energies secured 120 MW, and Hexa Climate Solutions won 100 MW by quoting the lowest tariff of INR 5.06/kWh. Of the remaining capacity, 150 MW was awarded to Jindal India Power and 50 MW to Sembcorp Green Infra, both at a tariff of INR 5.07/kWh.

The tender, launched last year, specified a minimum bid capacity of 50 MW and a maximum of 600 MW.

“We received bids only for 540 MW, and as per tender conditions, 80% of the quoted capacity was supposed to be awarded. We’ll not award the 12 MW capacity to the last bidder, as it goes below 50 MW. So the total awarded capacity gets modified to 420 MW. There’s no pre-estimation carried out for the back-end capacity installation in such tenders,” Pratik Prasun, senior manager-contracts and procurement, SECI, told pv magazine.

The winning developers will implement the projects under a build-own-operate model. The projects can be located anywhere in India but must be connected to the inter-state transmission system (ISTS).

Power may be generated from solar, wind, wind-solar hybrid, or any other renewable energy-based system, with mandatory backing from an energy storage system.

SECI will sign a 25-year power purchase agreement (PPA) with the successful bidders. The power procured will be sold to various buying entities across India.

Developers must maintain a demand fulfillment ratio of 75% on a monthly basis, 80% annually, and 90% during peak hours.

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