CERC Approves Tariff For 600 MW Wind-Solar Hybrid Projects Under SECI Tranche-IX

The Central Electricity Regulatory Commission (CERC) issued an order on 12th June 2025 in a Petition filed by the Solar Energy Corporation of India Limited (SECI). The petition was filed under Section 63 of the Electricity Act, 2003, seeking the adoption of tariff for 600 MW Inter-State Transmission System (ISTS)-connected Wind-Solar Hybrid Power Projects. These projects were selected through a competitive bidding process under Tranche-IX and conducted in line with the guidelines issued by the Ministry of Power on 21st August 2023.

SECI had floated the Request for Selection (RfS) for 400 MW capacity on 28th June 2024. The capacity was later increased to 600 MW through an amendment on 23rd July 2024. After the evaluation of four bids with a total offer of 810 MW, an e-reverse auction was conducted on 1st October 2024. Three companies were awarded the total 600 MW capacity: Juniper Green Energy (150 MW at ₹3.25/kWh), ACME Solar Holdings (300 MW at ₹3.25/kWh), and Sembcorp Green Infra (150 MW at ₹3.26/kWh).

Following the auction, Letters of Award (LoAs) were issued to the successful bidders on 15th October 2024. SECI proposed the applicable tariff as firm for the entire 25-year term of the Power Purchase Agreements (PPAs) and requested CERC to approve a trading margin of ₹0.07/kWh, to be paid by distribution companies or buying entities.

The selected hybrid projects consist of both solar and wind components. For instance, Juniper Green Energy will install 130 MW solar in Nagpur district and 50 MW wind in Barmer district, both in Rajasthan. The interconnection points are Merta-II and Barmer-I ISTS substations respectively. SECI will purchase the generated power under long-term PPAs, which are expected to be signed following the necessary clearances and submissions by the developers.

Performance Bank Guarantees (PBG) are mandated as follows: ₹23,55,000 per MW for solar capacity and ₹32,45,000 per MW for wind capacity. Success charges of ₹1,00,000 per MW plus applicable taxes must also be paid to SECI by the developers. The projects must achieve full commissioning within 24 months from the effective date of the PPA.

The bidding process was certified as transparent and in line with the official guidelines. The Evaluation Committee confirmed that the tariffs discovered are reasonable and consistent with market expectations. Although there was a delay in filing the petition with CERC beyond the 15-day guideline, SECI explained that it held the filing to reassess risks, given past tariff approval issues under Tranche VII.

CERC accepted SECI’s justifications and approved the adoption of tariffs as requested. The Commission clarified that while the trading margin is fixed at ₹0.07/kWh, it should not exceed ₹0.02/kWh in cases where payment security like escrow or revolving letter of credit is not provided. The petition was thus approved and disposed of accordingly.