SECI Auction Result: Swelect, Grew Energy and ReNew Win 400 MW Solar PV Module Supply Contract at ₹22.66 Tariff

In a significant move for India’s renewable energy sector, the Solar Energy Corporation of India (SECI) has finalized the results of its auction for a 400 MW supply of indigenous solar PV modules. The initiative marks an effort to bolster local manufacturers and reduce reliance on foreign solar technologies.

The auction identified three main winners. Swelect Energy Systems claimed a contract for 100 MW, demonstrating its expanding influence in the solar industry. Grew Energy, with a commitment to sustainable energy, secured the largest share with a 200 MW contract. ReNew Photovoltaics was also successful, cementing its market presence with a 100 MW agreement.

A unanimous tariff of ₹22.66 per Watt peak (Wp) was settled upon by all the bidding entities, setting a standard rate for the modules supplied to SECI and potentially establishing a precedent for subsequent auctions.

The tender, launched by SECI in December 2023, stipulates that the awarded manufacturers must use domestic solar cells and supply modules that are uniform in technology (specifically crystalline) and size. The delivery of these modules, along with the required spares, must be spread over a nine-month period and can be to any location in India as determined by SECI, adhering to the specifications of the Ministry of New and Renewable Energy and its Approved List of Models and Manufacturers.