SECI has completed the auction for its 600 MW Wind Solar Hybrid Power Projects under Tranche IX, marking an important achievement in India’s renewable energy sector. The auction attracted several major companies, and the competitive bids underscored the intense competition in the hybrid energy space. The winning companies were ACME Solar, Juniper Green Energy, and Sembcorp Green Infra.
ACME Solar and Juniper Green Energy secured bids with a tariff of ₹3.25 per kWh. ACME Solar was awarded 300 MW, while Juniper Green Energy won 150 MW. Sembcorp Green Infra secured 150 MW with a slightly higher tariff of ₹3.26 per kWh. These close margins reflect the strong competition and ongoing trend of decreasing tariffs in the wind-solar hybrid energy sector, making renewable energy more affordable and attractive in India.
The auction results are seen as a positive step toward the country’s goal of increasing its renewable energy capacity and reducing reliance on fossil fuels. The lower tariffs also signal that hybrid energy costs are continuing to decline, further supporting India’s renewable energy transition.
Earlier in June 2024, SECI issued a tender inviting bids for the development of 400 MW wind-solar hybrid power projects. This was later expanded to 600 MW, with projects to be developed across the country. The scope of the work includes hybrid power projects with a minimum capacity of 50 MW for projects connected to the inter-state transmission system and 10 MW for those connected to the intra-state system.
The developers selected through this auction will enter into a 25-year Power Purchase Agreement (PPA) with SECI. SECI, as the nodal intermediary agency, will procure the power from the developers and sell it to various buyers across India. This auction demonstrates the strong interest from key players in the solar sector and represents a major step towards achieving India’s renewable energy targets, reinforcing its position as a global leader in solar and hybrid energy.
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This auction result shows the rising demand for hybrid energy. Avaada Group, with its deep experience in both wind and solar, has been a consistent leader in delivering efficient and scalable hybrid solutions across the country.