SECI’s Milestone Auction: Avaada, Sprng, ReNew, and Blupine Clinch 1000 MW ISTS-Connected Solar Projects in Tranche XII Triumph

In a recent triumph for the renewable energy sector, Avaada Energy, Sprng Energy, ReNew Solar Power, and Solarcraft Power India 8 (Blupine Energy), emerged victorious in the latest auction conducted by the Solar Energy Corporation of India (SECI). This competitive auction, falling under Tranche XII, focused on the establishment of 1000 MW inter-state transmission system (ISTS) connected solar power projects.

Securing their positions with notable capacities, Avaada, Sprng, and ReNew clinched 300 MW, 250 MW, and 300 MW, respectively, at highly competitive rates of INR 2.52/kWh. Meanwhile, Solarcraft Power India 8 secured 150 MW with a slightly higher bid of INR 2.53/kWh. These groundbreaking developments pave the way for significant strides in India’s solar energy landscape.

Under the 25-year power purchase agreement (PPA) period, SECI will act as the facilitator, selling the power procured from these projects to various entities. The selected developers are now entrusted with the responsibility to commission the projects within 24 months from the effective PPA date. This involves utilizing modules from the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers.

Developers, in this case, must oversee crucial aspects of the project, including land identification, project installation, ownership acquisition, and the acquisition of necessary approvals. Additionally, they are tasked with ensuring seamless connectivity with the ISTS network to facilitate the efficient supply of power to SECI. This triumph not only reinforces India’s commitment to sustainable energy but also highlights the continued collaboration between public and private entities in advancing the nation’s renewable energy agenda.