Image: Avi Waxman, Unsplash
SECI has completed its latest tender for 1.2 GW solar power with 600 MW/1.2 GWh storage capacity at a final average price of INR 3.42/kWh.
JSW Neo Energy secured the largest amount of capacity, namely 500 MW. Acme Solar Holdings secured 350 MW and Hero Solar Energy 250 MW. Pace Digitek Infra won 100 MW.
SECI launched a tender in March 2024 to set up 1.2 GW of PV projects with 600 MW/1,200 MWh of energy storage systems (ESS) on a build-own-operate basis. The projects can be implemented anywhere in India and must be connected to the inter-state transmission grid.
SECI will sign a 25-year power purchase agreement (PPA) with the successful bidders to purchase solar power. It will then sell the acquired power to various purchasing entities across India.
The solar developer will install at least 0.5 MW/1 MWh of ESS capacity for each 1 MW contracted project under the PPA. The developer can own the ESS component or collaborate with a third party. The ESS can be co-located with the PV power generation or placed separately within one project.
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