SECI’s ISTS Connected Solar Tranche-XIII Auction: JSW, Sunsure, UPC Renewables, and NTPC REL Secure 1500 MW in Competitive Bidding

The Solar Energy Corporation of India Limited conducted a reverse auction for the ISTS (Inter-State Transmission System) Connected Solar, under Tranche-XIII, on March 7, 2024, aiming to allocate a total capacity of 1500 MW. The auction initiated with an opening L1 tariff rate of 2.58 INR per kWh. As a result of the competitive bidding process, four companies were awarded contracts to supply solar power.

JSW Neo Energy Limited emerged as a significant participant, bidding for 700 MW and securing the entire capacity at a final tariff of 2.56 INR per kWh. Sunsure Solarpark Fourteen Pvt. Ltd. also successfully bid for 300 MW, winning the full amount at the same competitive tariff of 2.56 INR per kWh. Tejorupa Renewables India Project Pvt. Ltd. (operating under UPC Renewables), proposed a capacity of 250 MW, and was granted the entire bid at the rate of 2.56 INR per kWh. Lastly, NTPC Renewable Energy Limited participated with a bid for 600 MW but was awarded a reduced capacity of 250 MW at a slightly higher tariff of 2.57 INR per kWh.

This auction highlights the ongoing efforts and competition within the renewable energy sector in India, particularly in solar power, to achieve cost efficiency and expand the country’s renewable energy footprint in alignment with its sustainable development goals.