ReNew, ACME, And Adani Green Secures 600 MW In SECI’s 1200 MW ISTS Tranche XVlll Solar Tender With Tariffs As Low As ₹3.04/kWh

The Solar Energy Corporation of India (SECI) recently concluded an auction for 1,200 MW of solar PV projects connected to the interstate transmission system (ISTS) Tranche XVlll. The auction set a benchmark with a discovered tariff of ₹3.04 per kWh, reflecting the competitive nature of India’s solar energy market. Out of the total tendered capacity, only 600 MW was awarded, with three companies emerging as successful bidders.

ReNew Solar Power secured 250 MW at the lowest tariff of ₹3.04 per kWh, demonstrating its ability to deliver at highly competitive rates. ACME Solar Holdings, the largest winner in terms of capacity, was awarded 300 MW at a slightly higher tariff of ₹3.05 per kWh. Adani Green Energy (Adani Renewable Energy Holdings Twelve) also participated, further showcasing the involvement of key players in the sector.

The auction results indicate a narrowing range of tariffs, with bids spanning from ₹3.04 to ₹3.10 per kWh. This reflects an ongoing trend of competitive pricing driven by technological advancements and efficient project execution.

The tender floated in September 2024, required bidders to offer a minimum of 50 MW and a maximum of 500 MW. This framework attracted significant participation and highlights the evolving dynamics of India’s renewable energy sector, with companies continuing to compete for large-scale projects to meet the nation’s growing clean energy needs.