SECI’s Tranche VII 2000 MW Wind-Solar Hybrid Auction Declares NTPC, Juniper Green, and Green Infra Wind Energy as Winners

In a recent development in the renewable energy sector, Solar Energy Corporation of India Limited (SECI) successfully conducted a reverse auction for a Wind-Solar Hybrid project under Tranche VII, with a tendered capacity of 2000 MW (e-RA – 1012 MW). The auction, held on January 9, 2024, saw enthusiastic participation from various bidders vying for a share in the burgeoning sector.

The opening L1 tariff was set at INR 3.15 per kWh, and successful bidders were required to adhere to the L1+2% tariff framework. NTPC Renewable Energy Limited secured a significant portion of the project, with a bid capacity and awarded capacity both standing at 300 MW, at the L1 tariff of INR 3.15 per kWh.

Juniper Green Energy Private Limited and Green Infra Wind Energy Limited secured 150 MW each, with a final tariff of INR 3.21 per kWh. Meanwhile, Avaada Energy Private Limited bid for 115 MW but did not secure an awarded capacity, while Sprng Energy Private Limited also faced a similar outcome with a bid capacity of 250 MW. Of the entire bid capacity of 2,000 MW, only 900 MW was allocated.

The auction marked a milestone in India’s commitment to expanding its renewable energy portfolio, with successful bidders contributing to the national goal of achieving sustainable and clean energy. The finalization of tariffs showcases the competitiveness of the sector, encouraging further investments and advancements in Wind-Solar Hybrid technology. This successful auction underlines the nation’s dedication to meeting its renewable energy targets and fostering a greener future.

SECI initiated the tender process in October last year.