India has tendered 1 GW of capacity in an auction that required developers to submit renewable energy projects backed by energy storage systems.
SECI awarded capacity at a lowest tariff of INR 5.25 ($0,055) per kWh in its tender to procure 1 GW of firm and dispatchable renewable energy on a round-the-clock basis. The winning projects will be connected to India’s inter-state transmission system (ISTS).
The INR 5.25/kWh tariff was quoted by Kengeri Prime Solar (180 MW), Resolven Four Energy (150 MW), Hexa Climate Solutions (150 MW), Hero Solar Energy (120 MW), EMIF II Holding (100 MW), and Purvah Green Power (70 MW). The remaining capacity was awarded to Juniper Green at INR 5.26/kWh.
The procurement is based on contracted power capacity (MW). Renewable power developers (RPDs) must supply electricity on a round-the-clock basis while maintaining a minimum demand fulfilment ratio (DFR) of 90% during peak hours, 80% during off-peak hours – relaxable to 70% for any two calendar months between July and September – and 90% on an annual basis. These requirements are designed to ensure renewable energy projects mimic the operational profile of conventional thermal power plants, delivering firm, round-the-clock power with high availability.
Successful project will be developed on a build-own-operate basis and supply firm power under 25-year power purchase agreements (PPAs) with SECI. SECI will sell the procured power to buying entities across India.
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