The Solar Energy Corporation of India (SECI) declared the results of its Tranche XI auction for 2000 MW interstate transmission system (ISTS)-connected solar projects in India. Jakson, Eden Renewables, SAEL, Shiva Corporation, ReNew Power and Avaada Energy emerged victorious in the competitive bidding process.
SAEL and ReNew Power secured the lion’s share, with both companies winning bids for 600 MW each at an impressive tariff of ₹2.60/kWh. Eden Renewables secured a contract for 300 MW by quoting the same tariff, while Jakson secured 200 MW at ₹2.60/kWh. Shiva Corporation secured a 100 MW project also at ₹2.60/kWh.
Avaada Energy was the only bidder to quote a marginally higher tariff of ₹2.61/kWh but still managed to secure 200 MW out of the total quoted capacity of 500 MW.
The winning developers are expected to commission the total capacity of the projects within 18 months from the effective Power Purchase Agreement (PPA) date.
The power procured by SECI from these projects is earmarked to be sold to various entities across India. The successful bidders are now responsible for identifying suitable land, installing the projects, and obtaining ownership. Additionally, they must secure all necessary approvals and ensure connectivity with the ISTS network to supply power to SECI.
The projects must be designed to comply with the regulations for interconnection with the ISTS network. The successful bidders must adhere to the applicable grid code, grid connectivity standards, and other regulations and procedures issued by the appropriate commissions and Central Electricity Authority for grid interconnection and metering.
The tender for these solar projects was floated by SECI in March of the current year.
